determining the takeover value of a company

Enterprise value is a figure that, in theory, represents the entire cost of a company if someone were to acquire it.

Enterprise value is a more accurate estimate of takeover cost than market capitalisation because it takes includes a number of important factors such as preferred stock, debt, and cash reserves that are excluded from the latter metric.

Way back on the 29 August 2008 Commsec Senior Analyst Paul Johnston conducted a Breakdown of Valuation when the share price was at $0.19 .

He concluded an Enterprise Value then of $4758.6 m and applied a discount of roughly 22 % and reached an Enterprise Value of $3676.5

Less Net debt $2959.0 m

He allowed a further $200m for Management Fees, which we have since learned has gone by the wayside until share price hits $1.50 bringing Net Debt to $3159m with $517.5m equity remaining. His valuation $0.71 per share

Now add the $200m Management Fees to the $517.5m = $717.5m

Divide $717.5 by shares on issue 726.3m and you get somewhere near $0.985 per share.

Sorry I was so long winded, I thought it was rather interesting considering everyone's thoughts.

$0.985 per share sounds good to me.