Interesting conundrum in valuing a company such as Redflex for...

Interesting conundrum in valuing a company such as Redflex for take over.
The previous offer - rejected - at $3.50 a share was made when the AUD against the USD was much lower and so in AUD terms the profit capable of being made by the company was much higher and so presumably would attract a higher t/o premium.

Now that the AUD and USD are about on parity the profit made in Australia is less despite the fact that the business done in the US is just as good as it ever was and so will probably attract a lower bid price.

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