I thought about the obvious arbitrage myself but it just looks too obvious. Maybe a combination of TGP being so small and flying under the radar plus they still need to get ASIC approval before they can go ahead?
It's a weird situation with 360 in general. The two best ideas I can think of are winding TOT up through asset sales and distributing the funds to the shareholders (of which TGP would receive over 40%) or TGP using some of that cash pile to buy the 60% of TOT that it doesn't all ready own creating a larger and more relevant combined company.
They are now receiving significantly more from TOT in annual dividends than in management fees too which is an interesting factor to consider.
TOT Price at posting:
39.5¢ Sentiment: Hold Disclosure: Held
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