Ann: GRD Minproc awarded contract for Angostura P, page-3

re: Ann: GRD Minproc awarded contract for Ang... Wow it goes up as i predicted. takeover looks interesting and the initial bid could go higher as it is opportunistic.

The bid significantly undervalues the company on EBIT multiples. Assuming 2008 EBIT will be maintained and EV of 8 times the company should be valued around $250-280 million. That is around $1.25 a piece.

I hope others too come out with much better offer.

I am still a novice so DYOR

Thanks