The drift from 90c (MC of ~120m) to 65c (MC ~90m) or a drop of 25% on what seems like mainly the news around the Dunlop distn agreement being somewhat in the air seems excessive.
It's clear that Goodyear will sell the Dunlop business, and it seems a little hard to imagine that an acquirer would want to continue the loss making business in ANZ so the deal that they have penciled (although I find it hard to understand how they agreed to a deal with NTD and somehow there were no concrete legal basis to walk back from that) seems like a decent option for an acquirer who would be looking at the economics of a larger market (well larger than ANZ)
The drift from 90c (MC of ~120m) to 65c (MC ~90m) or a drop of...
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