@freetime77, I think you're focused on the wrong thing. I'd be asking:
1. Where does WSG get off misleading shareholders on their fabricated trading range of 2.8 - 3.05 since the failed takeover? Anyone following the shareprice can see that it's average around 3.2 since the bid closed.
2. Did WCG even bother to read the Lonergan Edwards report? And if so, how is their interpretation of the findings so different to what was actually documented. They claim a dilution of circa 70% on maintainable EBITDA and 50% less than the estimated share price value of 3.8 to 4.2
3. How is exactly does WBC plan to turn CNW around when they're not exactly setting the world on fire themselves. The letter to Shareholders highlights some fairly compelling underperformance issues within WCG that can't be ignored.
Given the choice between the 2 separate companies, I know where I'd rather invest my money.....and it's not in the company who is going backwards in revenue, made a net loss after tax of $63.1 million last year and boasts a total net debt of $39.2 million.
I wouldn't let them anywhere near the CNW board.
