I think there is an extra $400-600 million capital in AVB above the offer price.
If the offer succeeds, it is reasonable to expect that value to go to OZL bottom line. I'm tipping OZL ends 2019 having past $12 minimum. All on the back of little AVB. I still think the haste with which the BOD acted was alarming.
All it will take now is the opportunity funds who have probably soaked up the shares sold since March 27 or a G to roll over and they are at 50.1%
From day one I've had little doubt they would achieve that milestone despite my disappointment at losing 'our' company. Once a board 'surrenders' ....Now how to capitalise on it? An awfully big gap between what we are being offered and what it is worth today or would have been further worth in time.
AVB Price at posting:
17.3¢ Sentiment: Hold Disclosure: Held
