Ann: Takeover offer for PGH - Letter to shareholders, page-7

Great post, tickspen. Further to my previous post and considering the valuable input from others, and in light of Pact’s Independent Board Committee (IBC) and RG reiterating that the offer is final and cannot be increased, I have updated the pros and cons to potentially assist holders with their decision:



In summary, there is now effectively no benefit to accepting the offer. The best option is either to take no action (hold) or sell on market. Additionally, there is always the option to increase your holdings (buy on market).

Clearly, the IBC is not truly "Independent", so they should consider revising the name of the committee. They (in my opinion, of course) are attempting to pressure shareholders into accepting the offer.

Commenting on the 1H FY24 Trading Update is challenging without the accompanying Income, Financial Position, and Cash Flow statements, along with supporting commentary. I was not anticipating a strong first half and had expected negative commentary from Pact due to increased expenses associated with their cost-saving initiatives and recent investments in new plants for future growth. Based on the available information and the management team's intentions, the announcement is positive.