Ann: Target's Statement and Independent Expert's Report, page-88

I am onto cows again...If you offer to buy my cows at $4200 each and I commission the local butcher (no pun intended) to give me a value, and he comes back and says yeah they are only valued at about say $3100 each, I would think it is fair value and my pea-brain would say yes it is fair accept the offer.

But wouldn’t you, being the shrewd business person you are then say hang on a bit- I think Ill only offer you $3200 each, no way should I pay you more...what value am I getting for my $1000 extra?

Maybe the butcher doesn’t know something?? Or he isn’t saying? I just find it strange why would she want to proceed if the value apparently isn’t there?

Surely an indication of the value would be the future benefits a takeover company will achieve through its acquisition must have some bearing on its price (remember the Monopoly board game- what happens when you try to purchase that remaining yellow property from the guy next to you, and he doesn’t want to sell- there’s a good lesson to be had from that)