To be brutally honest a $500m NPV would be disappointing... Regardless at this MC COB (circa 100M) is a clear takeover target. A company could offer $400m and not only secure there supply chain into the future but make a profit - difference between offer and NPV. From my point of view this is why Trangie's resigned from the COB board as he doesn't want to be caught on the fence between BPL and COB through these inevitable negotiations.
Best case scenario IMO would be a substantial takeover offer, COB's rejection and the subsequent re-rates of BPL and COB to another dimension.
COB Price at posting:
96.0¢ Sentiment: Hold Disclosure: Held
