re: packer in ecorp clean-up, to singas Singas, how do you come...

re: packer in ecorp clean-up, to singas Singas, how do you come up with a valuation of 85c based on $150 million in cash?

Have you had a look at the balance sheet? ECP has net assets (or shareholders equity) of $133 million. This works out to be approximately 18c a share.

People who keep talking about ECP's cash seem to be ignoring the fact that ECP also has debts which it needs to pay and that its total assets are only worth about 18c a share at current valuations.

In my mind people who vote against this takeover are cutting off their nose to spite their face.