DML just announced that they have asked the consortium to resubmit a bid at a more attractive level before they will consider it. about 4:30pm today.
just to clarify - DML has been offered over $800 million plus the net debt they hodl - values the takeover closer to $1 billion.
this makes TGS a bargain - i believe TGS is a more valuable company if it can get 100% ownership -
SOOOO - TGS just has to get hold of the 40% for 150 - 200 million and the market cap could then double to match the DML market cap..... wishful thinking i know!
TGS Price at posting:
34.0¢ Sentiment: Buy Disclosure: Held
