I suspect that everyone is under estimating Ruffy. He is a very smart man and has a very deep bench of advisors guiding him.
He is moving to a delisting as it is the logical next step. If that shakes out some sellers he is happy to sweet them up. Will he offer a significant buy price above where it is today, I doubt it very much.
The court case with TIC could go either way and the reality is that if it doesn't work out for TIC they only have Ruffy to sell to, so not sure if that will get him over the 90%. I haven't been tracking the goings on but I would be looking at the timing of the TIC action and the timeline of the delisting.
I am sure PGH will be delisted but I am no expert. I am also sure that TIC will not be interested in being a minority holder of an unlisted Public company that Ruffy controls.
I wish you all luck but take emotion away from investing decisions is all I can advise
PGH Price at posting:
92.0¢ Sentiment: None Disclosure: Not Held
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