nice merger scenario in the afr today, page-15

Interesting price speculation on merger scenario in various posts... but as a significant ord share holder I don't see why, after having paid $1.50/share at the last capital raising and waited for so long for a turnaround, I would be tempted to accept an offer below the vicinity of current NAB/NTA as evidence of turnaround is starting to emerge.

I won't say I have great faith in the current management yet, but there is evidence of things starting to improve after years of unfavourable circumstances (as well as earlier poor management) and IMO it would worthwhile to be patient a little longer for the improving trend to take hold rather than sell now at near all-time low in company's SP. If in the unlikely event the next report does not show the positive momentum in performance building up, I would prefer to have the CEO changed than to accept an opportunistic offer at low price unless circumstances change to make company's turnaround as stand-alone entity clearly difficult.