Judging by the shareprice action...Been a couple of weeks now...

Judging by the shareprice action...

Been a couple of weeks now for IBA to decide what they're going to do about iSoft, but there hasn't been a peep out of them.

From the silence and the price falling, my guess is that they are seriously considering raising the offer, which will mean further dilution with a raising/placement at an even lower price, and having to give away who knows how much of the value to CSC in order to get their consent.

Time for them to back out now I reckon! It would make the current shareprice a bargain below 90c if they did a capital return of 30c per share... Net holding cost would then be around 60c for a company with existing earnings of 6cps - a PE of just 10x!