I agree the offer price is ridiculously low - just 13x next...

I agree the offer price is ridiculously low - just 13x next years PE, 7x forecast EBITDA. The growth trajectory of this firm means these nultiples are simply a joke.

What blows me away is why founding mgmt have agreed to sell out at this level - and offer call options at this price to do so! I wonder what else is at play here.

I think the "independent expert" will have a harder time than usual supporting the opinion tat SOT will be paying it to produce. 15-29% premium for control doesnt seem to quite cut it in the face of the growth path.

Unfortunately I cant see anyone stepping up to the plate to offer more - too expensive for AMM who would be the perfect fit. Singtel/Telstra have no need for the network - doubt Telecom NZ have the appetite either. The long timeline for the deal completion looks designed to bore holders into submission.