I suspect there will be some disappointment at this outcome because most people - based on the indications in the AFR article that broke the takeover story - would probably have been assuming the takeover valued the equity alone at $100m (i.e, ~46cps) , when it turns out that the $100m figure referred to the enterprise value (i.e., equity value plus net debt).
Ann: Cash offer for Legend Shares, page-2
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