Just started having a look at this, I have these in my portfolio at @54cents; 31cents looks pathetic.
LLC has, what 45%, if they were called on a capital raising of $300M, they would have to find $135M. Clearly LLC, sees it better to use that sort on money to take out the other shareholders.
As there are no other offers on the table, they can offer what ever they like. There has only been one independent valuation, we can vote on it how we wish.
Has the board done their own valuation? Has the board received any other takeover offers? Has the board canvassed a $300M spp with institutions? What would be the sp of such a placement?
I think I had better read the booklet.
I'll be voting no at this stage, as I will be booking a loss.
Cheers, Skip
LLP Price at posting:
30.0¢ Sentiment: Hold Disclosure: Held
