With respect, OZL did not "pony up $420m". Taking into account AVB's cash balance, OZL will end up paying well under $200m in cash if they achieve 100% and will issue just short of 24m new OZL shares. How much those are worth is open to question, but had OZL tried to place that amount I would be surprised if they could have done it for anything like even the price at the time of the bid.
Incidentally, it gives me a wry smile to be able to point out that both Appian and Greenstone would have been better off putting the money they invested in AVB into OZL at the same time instead.
OZL Price at posting:
$10.31 Sentiment: Hold Disclosure: Held
