Ann: SKI receives conditional and non-binding indicative proposal, page-5

No one in the mkt is valuing SKI at or above $3 atm, so that is unrealistic.

Im very surprised that the BOD didnt accept at $2.80. $2.90 is pushing a reasonable valuation so I would think that GS will be advising on this price. You have to consider that SKI has never traded at this price and CPI is expected to remain low.

In my opinion $2.80 is a full price. The revelation of the renewables hub as part of its LT strategy is something that was prompted by the T/O to squeeze more dollars from the bidder. Same applies to the ASA preso, which is just an attempt to gain favour. Powerful lobby groups can make all the difference when foreign inv boards are involved. Good luck to them but I personally would have accepted at $2.80.

This is a low risk, low growth stock. But at $2.80 its priced like a growth stock. I can only assume that the consortium believes that CPI will rise as will demand from transmission (significantly). If this was true the BOD would have been forecasting it. Instead, they have been looking at opportunities on the generation side from renewables so as to make use of its transmission assets at a low cost.

Id dont think transmission is the future esp when you consider the move to energy storage (batteries). Why use lines when your energy is stored or can be charged wirelessly through magnetic fields (when it becomes more efficient).