Thought we might post our "expected Cape offer" for closest to the pin challenge.
My guess is an offer of 55M
(29M Net to VDM)
Detail below and I've deducted 3M for VDM mgt and board previously being underwhelming and guess the couterparty will come out with the better deal.
Mav
Details
26M - Debt
26M - Book value
3M - Premium (company X made the approach)
3M - for the 100M order book & going concern
(-3M) - VDM mgt typically underwhelm
55M Offer - Total
29M Net to VDM
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