I have argued here for some time that NZO should either make a...

I have argued here for some time that NZO should either make a decent offer for PPP or otherwise eff off.

I interpret the following statement from today's NZO HY
that no appropriate offer will come through:

"We are determined to build further value for our shareholders and we will not be taking undue risk or overpaying for any investment."

Hopefully Tomkinson/Prudence will now take the hint and embark on the long talked about (but properly never actually intended) acquisition route and start creating value for PPP holders and disregard NZO.