@webbj no amount of divesting could fix the issues complained of. They're upset about the heatset printing market - well $330m of the target's $350m revenue is printing.
But, IMHO the selloff is overdone for two key reasons:
1. ACCC hasn't yet said no;
2. even if ACCC says no (which I agree would seem likely), the courts might say yes.
PMP wouldn't have gone into this blind. Surely they knew the ACCC would take a good look at it. Presumably they think there is a good chance the ACCC is taking too narrow a view when defining the 'market'. Given the synergies available, and the relatively low cost of challenging any refusal, I'd think it likely that a refusal would be challenged in court, on grounds that are at least reasonably arguable.
PMP Price at posting:
65.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)