market disconnect paradox

Whatever happens here, well it happens. (it's looking pretty bungled at present from where I am sitting). But an interesting situation has sprung up here.

This IPM scenario is a case in point. I am reasonable sure an independent report would say $1.50 or more for the IPM value, so why the desperately low share price?

We could probably list 30 or 40 or 50 oil companies that are trading well below their true worth etc, but the reality in the marketplace at present is that such has been the massive bursting of the leverage/margin bubble in Aust shares that there is simply not enough money to go around to satisfy these so called true worths.

A lot of people on this string (rightly or wrongly) saying 'hey you are not going to get my shares for what COE are offering' and so forth and that is fine, but prior to this they were only 97 cents. People are talking about (say) $1.50 (or higher) as the value and I agree with that value.

That is fair enough, but that is some serious market disconnect between 97 cents and $1.32 or whereever it is valued at now. How would the lie of the land be if, just for argument's sake, someone pops up and gives you $1.50 cash for your IPM shares.

How about that as a question to kick off a new string on this very fascinating situation...............

"Would you, as an IPM shareholder, (given the battered state of your portfolios) be willing to give serious consideration to $1.50 in cold?"

Please answer in terms of your overall scenario. We are all pretty much agreed the value undervalues IPM so we don't need to argue it over again (no-one is disagreeing about that too much that I have seen). I am trying to build up some info on exactly what would trigger people to accept.

$1.50 cold hard cash?