prow - please challenge this, page-6

I still own options but I sold my shares
I hadn't realised I was defending something. I was giving my opinions on valuations. I am certainly of the opinion that the valuations done were pessimistic. Cash paid is king however in my humble opinion, becoming more speculative in value as the time of the deal extends into the past.
The deal was not at arms length but given that the sellor was a geologist with wide coal experience he was under no obligation to go the Bowen route apart from being tempted by a Board seat. Not sure what this is worth. He resigned in the end.