bargain, or not, page-6

If we dismiss the December offer as an opportunistic joke (which I think we can), it seems to me that an offer of say 15c for the ords and $50 for the PXUPAs might be attractive to both sets of holders. My back of the envelope maths says that would cost in the order of $235M. Still a steal if PPX has any sort of a profitable future. I would vote my 20,000 PXUPAs in favour of that. What do others think?