Ann: Updated Non-Binding Acquisition Proposal Received from CVC, page-79

I takes news and brokers research with a grain of salt but they are valuable information. I am short term to medium term, although I held some for a very long time... all depends..

You are obviously know APM way more than me and know it inside out. I tend to look for undervalue stock hoping can profit from it. I look at P/B ratio, equity premium and obviously cash and debt position of the company. Business changes very quickly and it is the fact...

Lenders do have the upper hand when companies in financial crisis (not implying APM is). A good example of it is HLS which was force to go into a capital raising and now looking to divest their imaging business.. . market seems to like that move. Another example is Domino, the lender was happy to increase the interest coverage.

We don't know until all announced otherwise we all be in Bahama with pina colada

Since you know APM inside out - and even at current price it is still undervalue for you. It would be convincing if you could provide some number - say, P/B, the equity premium and perhaps the target share price using DCF..

Surely we look at this objectively... Would BoD say yes to $2 if CVC had no finance issue?? Perhaps other bidders will emerge after this announcement?? We don't know... but the media will know first ..