I think this will prove to be a big win for Aspen Group. The fact that there were takeover bids from two other big holiday park companies for the Aspen Park Property Fund implies that they saw this as a bargain and Aspen Group now owns 40% of Aspen Park Property Fund thanks to the takeover panel result. APZ got its new entitlement at 51c a share whereas Discovery was fighting to pay 56c a share in its takeover bid. I suspect those shares are worth considerably more than either figure. Certainly if I had been an Aspen Park Property fund shareholder, I would have taken up my full entitlement in these circumstances yet only around 17% did.
GPASAS
APZ Price at posting:
$1.25 Sentiment: Buy Disclosure: Held
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