the only reasoning I can see, is that 7 is eventually looking to get out of TV, and probably all media.
a Reverse T/O effectively moves the mgt of 7 from Seven to Prime.
because clearly any merger would mean 7 s/h got about 90% of the equity.
According to the article, Prime has been confiding to its bigger shareholders.
Why are they speaking with certain s/h and not all s/h?
are /were these "in the know" s/h hoovering up shares on mkt? we don't know the timing of these alleged secret discussions.
Anyway, at least the article forced Prime to actually communicate to the market and its shareholders.
PRT Price at posting:
47.5¢ Sentiment: None Disclosure: Held
