cassidy resigns from oxr board, page-28

HK

Agree Michelmore appointment complicates things, but I'm sure he'd do OK financially and he might well be offered some involvement in the combined entity.

Simplistically,

ZFX buy OXR and it's massively EPS dilutive - surely they'd have to pay around $6 and still stand to be overbid.

OXR buy ZFX and it's likely to be eps accretiven - albeit you'd expect OXR PE to contract a little.

Good chance one of us will be right - the combination looks very likely to me

Cheers