Ann: Target's Statement, page-2

Target Statement Expert Valuation of Eildon = $1.07
Net Tangible Asset Value (ie not including intangible management rights) = $1.10

Am I wrong, but does that effectively mean that the Eildon appointed expert just concluded that the management rights are effectively a negative 3cps. Or put another way that their own experts are saying that management are value destructive.

This would suggest that the best thing for shareholders would be to wind up the group and return capital to investors.

There needs to be a "confused" sentiment button.