Been long in PDL for many years, so disappointing to see market cap so low, but this is the market we are in, bear market that is putting the squeeze on all funds management business models
Where best from here? Certainly not selling, but realising that a merger with PPT might be a viable pathway back to growth. Thinking that a mostly script offer would be palatable, and scale benefits ie over $200B in FUM is appealing, together with likely better franking ratio in dividend payout
Hoping therefore that a script ratio of 1:6 plus some cash sweetener bringing offer > $6+ is forthcoming. Then we might see growth in the new PPT/PDL business regaining the market cap that we lost in recent years. But this won’t happen til bear market conditions end I think in 1-2,years. Need to play the long game punters. DYOR
PDL Price at posting:
$4.38 Sentiment: Buy Disclosure: Held
