I suspect the reason the takeover tussle is over GTY and not INA is precisely because of GTY's poor management - because it was priced into the SP, which means there is a lot more value there if you can take it over and fix the management.
If a predator has to pay a control premium to get INA (which would mean paying a premium to NAV), but then can't significantly turn around the business because management is already running it very well, there is much less incentive to make a bid. You only bid if you think you can extract more value from the business than the market is paying for.
I suspect the reason the takeover tussle is over GTY and not INA...
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Last
$5.19 |
Change
0.100(1.96%) |
Mkt cap ! $2.115B | |||
| Open | High | Low | Value | Volume |
| $5.17 | $5.22 | $5.15 | $3.943M | 760.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2065 | $5.17 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.19 | 5386 | 2 |
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| Last trade - 16.10pm 17/07/2024 (20 minute delay) ? |
| INA (ASX) Chart |