*FAR Price Target Cut 40% to A$0.06/Share by Morgan Stanley, page-51

The only way a bid would/will be lobbed is if WPL think they will lose.
It would be straight up white flag moment IMO
If it happens, a big IF, people should be looking at the value of the 35% as a starter, as only a raving looney would give it up for free.

I find it interesting Morgans approach to valuing a company?
They value the apparent lack of finance and uncertainty around the development of SNE at 40% less.......absolutely pie in the sky stuff IMO.
They could be right.....they could just as easily be wrong too.
I though these mobs has significant staff that dug down to the asset value?
Its ok though I do this for a living comes to mind.....maybe they should have rang Gav?

Have they dropped the price on FAR because they have caught wind the development might be delayed because WPL are FAR from confident of winning PE? Did they mean WPL is having trouble with JV funding and that is the uncertainty? Wonder why that could be???.
I find it almost inconceivable that the Government would be having any difficulty finding 270 million, the other 270 is JV funding.
One less poor African country for the rest of the world to worry about.
The other thing is FAR is below their price so they see value atm......