I'm a long term holder (and I suspect longer term than the hedge fund owners) so I can live with the near term share price volatility. The biggest risk for me is that some of the remaining significant shareholders capitulate and I am forced to take a low ball offer under a compulsory acquisition process.
Of more interest to me is PGR's operating performance and I'm very keen to see the H1 results. Today's AFR highlighted that retail trading in late Dec was better than expected for many retailers and the Amazon effect was hardly noticeable. I'm also keen to get an update on any strategic initiatives, although they will likely play this one close to their chest if they are still planning to mop up the minorities.
PGR Price at posting:
40.0¢ Sentiment: Buy Disclosure: Held
