Mr Rocket. I am not sure where this assumption comes from, maybe you reside on a different planet to where PPX's core business is executed. Selling fine papers these days is a very tough game. In anyone's language it's a declining market. PPX has strong growth in its emerging businesses, it's management are doing a fine Job there but it needs a sound capital structure to grow those segments. I have read the offer letter & it appears entirely fair. Ordinary shareholders lose their controlling stake in the business but see the value of their shareholding increase a lot. Hybrids get some money back and a controlling interest in a business potentially going someplace instead of to the knackers yard.
