higher offer 4 sure, page-3

Hmm, not sure about a higher offer Chaps.

As per their June end financial year report, MCG had net Assets worth $1.374b, divide that by 542m shares gives us $2.53/share max. Current offer is $2.50, close enough.

Besides that, there's a mountain of debt about $5.95b, that CPPIB will inherit. Current EV for MCG is $7.3b, which is $5.95b + $1.37b.

Also worth noting is their revenue for last year, which was $767m & EBITDA of $326m. For the curent deal, EV/Ebitda multiple is about 22.38 times.

Little wonder, as to why the directors wouldn't say yes to this lifeline.