Innopac B/S shows assets of $70m and its Market Cap is $564m. Its B/S does not show any real financial might. How will it be able to finance Merlin's capital expenditure any better than Merlin have been doing so far. Something is not quite right with the Boards recommendation. Joe has to come clean especially given that he is a significant shareholder in Innopac and previous valuation of Merlin by stockbrokers.
MED Price at posting:
23.0¢ Sentiment: None Disclosure: Held
