Not too long ago, CBH wants to takeover PEM on a 3-for-1 script offer. Rejected by PEM, then they lifted the offer as 3.5-for-1.
Actually, I think if PEM puts an offer to buy RASP, the SP will go up. PEM has the same issue as OZL, i.e., haven't found the opportunity to use the money wisely to persue growth opportunity.
The synergy with CBH at broken hill is a win-win for both parites. PEM should do it now rather than later.
I have to say I am a CBH holder as well. I would love to see PEM merger with CBH on a reasonable deal, at least organize a JV at broken hill.
PEM Price at posting:
54.3¢ Sentiment: Hold Disclosure: Held
