For half of this company we get assets valued at between $3 and $4mil ($3 million plus France minus New Zealand). Surely it would be a more valuable exercise for OIP to cherrypick assets, pay for them in cash and explore them with existing capital reserves.
I'd like to know which 'alternative' strategies the directors explored (I supsect the answer is none which confirms this as a blatant cash grab IMO).
It will also be interesting to know what deal has been done with ESG for this proposed merger to have even got this far. To my mind a dud deal has probably been discussed about OIP offloading its CSG assets for a bargain base price (pure conjecture on my part but it explains ESGs motivations).
OIP Price at posting:
9.0¢ Sentiment: None Disclosure: Held
