Such a disappointing offer should definitely be somewhere in the 40c+ mark. I've been happy holding the shares for 10+ years collecting the 5-8%ff divs. Even with all the acquisitions they have made never doing a capital raising. Now when things are starting to go well again with all the construction spending the board except this poor offer, 17% premium what a joke. I hope that Thornley reject the offer.
Ann: Cash offer for Legend Shares, page-19
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