The thrust of my earlier post was that I thought AZX BoD were being very selective with their figurers in trying to prove whether or not the GGG offer was fair, I stand by that statement.
From your last post I guess the reason you called my post ?misleading? and that I hadn?t done my ?calculations? was because I wrote ?the better trade recently would be to sell AZX and buy GGG?. While I agree that AZX is trading at a discount to the 7 for 5 offer, imo it always will as the AZX SP has risen to meet the T/O expectations.
However my call that GGG may now be the better buy is exactly because that gap has closed and you also have to factor in that there is the ?possibility? that the T/O fails, in which case the AZX SP ?may? fall back to the previous differential.
Temu
From the T/O RNS: 14th March 2011
The offer represents a substantial bid premium of:
* 39.3% to Auzex's closing Share price on the ASX of A$0.625 on 11 March 2011, using GGG's closing Share price on AIM on 11 March 2011 of A$0.6223
AZX Price at posting:
70.1¢ Sentiment: Buy Disclosure: Not Held
