I don't think so. They are selling the international businesses so what is left in PPS after the sales is just the clean Aussie business, waiting to be swallowed by the likes of HUB/NWL or a PE firm. There will not be potentially multiple regulatory issues with businesses operating in different jurisdictions if it is just the Aussie business as the takeover target.
After the sales, PPS can do a capital return with franking to shareholders and then sell the Aussie business. HUB has taken over XPL last year, bought a division of Ord Minnett and bought 30% of EAS. IRE bought OVH. Apex bought MAI. NWL hasn't done anything. PPS is pretty much the last small/mid cap platform stock on the ASX, very desirable.
The ex-CEO was sack in May. It's now end of July. It seems like the company is not in a rush to appoint a new CEO, weird right? Also, share price went up on the day the CEO was sacked.
I smell a takeover.
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