proposed takeover values shs at a$0.1898, page-51

Hi guys, NHC understands the assets better than any of us, and has the most to gain or lose from DTE. It's not in its interest to sell too low, as it too gets shafted. It indicates to me NHC wants to move to commercializing from a position of strength vs. local govts and partners, and being a micro-cap without the ability to fund the build out or fight lengthy public battles is not ideal. Better to get an offer on the table, and see if Suez, etc want to top up at a better price. Sure we lose out on upside, but might avoid a series of drawn out development pushes and share raisings to fund. Will be good if someone looks into iGas financials to compare though.
Good on management I say, but agreed it looks low.