Agreed. It's not even close to a runner on these terms.
But there's more to this than meets the eye, IMO. I reckon RSH is now as much in play as ADR. I wouldn't be surprised if a larger player swallows them both. The only problem is that RSH's own valuation is very high.
Resmed is an obvious candidate to pick up ADR.
Ann: RSH: Bidder's Statement, page-14
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Mkt cap ! $9.103M | |||
| Open | High | Low | Value | Volume |
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Buyers (Bids)
| No. | Vol. | Price($) |
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| 3 | 435003 | 1.2¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 1.3¢ | 224800 | 1 |
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