In my experience though takeovers are measured by the market in terms of premium to market cap/volume weighted share price prior to the bid.
That said, the expert's report that is required in connection with the bid/scheme of arrangement do need to consider the relationship between bid price and, for example, the net tangible assets of the company. As for that matter must directors, although their assessment of a bid is more complicated, particularly if there are worries about the short term survival of the company.
Whether there will be a bid - who knows?
PRH Price at posting:
1.7¢ Sentiment: None Disclosure: Not Held
