anzac day arrives early at paperlinx, page-5

"The share prices of PPX and PXUPA have been soft in recent times. suX has long expected the board to arrange an opportunistic 'low ball' offer for the hybrids. "

PIGS organizing and other large purchasers of PXUPAs, IMHO, make this unlikely. Think Price is too smart to put too much energy into an exercise which is likely to fail. More likely to concentrate in the restructure and return to profitability of PPX. On the other hand I may be wrong.