I'd agree with you if the consideration was cash- it is roughly 'ballpark' at 0.6x NAV for MGV however WGX are using script at roughly double (1.2x NAV) which I think makes it opportunistic. That skews the terms heavily in WGX's favour. I think they need to offer more
Ann: WGX: Westgold Announces Takeover Offer for Musgrave, page-69
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