Mixed in my comments was the cynical view that some of the valuation work had been done. Your point that work was unreliable was also the one I was making (trying to)
cheers
On another note, Tony Jack (understanding his motives as a bidder for the trees) has written a cracking letter questioning the management of conflicts of interests by MN.
They have clearly dicked him around while Gunns got their act together and lodged a bid. this is a bid that favours the banks effectively herding the outcome in the direction they wanted - not letting Growers decide on the outcome for their money.
This was a risk from the start and the MN actions confirm they are NOT managing these conflicts.
Moreover, a recent report on Gunns highlights how much money the company will make FROM YEAR ONE if their offer is successful.
This says to me - bank wins, Gunns win, MN keep their fat fee and Growers get bent over again
GTP Price at posting:
12.0¢ Sentiment: Sell Disclosure: Not Held
