Most long term AVX holders hated the PGL deal but I suspect we would have taken our lumps and voted it in thinking it was the best on offer. So I must thank the large PGL shareholders who wanted nothing of AVX ( at 6.5ccc?????) and instead wanted to take the $1.10 cash.
I am happy they got their cash and we got our AVX. If however the merger had gone ahead the old PGL share would be worth about $1.60-$1.70 today at 14c.
The clever PGL holders though would have bought some avx on market,oversubscribed in the rights issue and also taken the $1.10 on offer from PGL.
There must be a God somewhere.
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