I'd consider $2.50+ as a fair offer. I can understand the differing perspectives of what is deemed fair. The company has lots of potential, management are doing a poor job, either on purpose or incompetence, not sure which but they have consistently tried to play down the potential of the company until that market announcement on the irregular trading. The remaining shareholders have clearly turned down the previous offer so it wouldn't make sense to do a marginal bid from that and the current price is well above that too with the ASX also just off records, further multiple expansion since the last bid.
I think it's fair to say that after RG's failed bid for TRS and Dollarama's successful bid there is a clear way to takeover the company and the keys are in RG's hand if he wants to get a deal done. Moving fast would be prudent before the earnings normalise and the company looks cheap to all.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)