take over bid, page-7

slaneway1

the BHP offer for POT was at 40 times POT annual earnings

in other words, if potash prices stayed the same, it would have taken BHP 40 years to recoup their investment

the BHP offer was far too expensive, it was madness, which is why the POT offer actually caused the BHP share price to fall

a $1.6 billion offer for ELM, that is, at $8 per share, represents 2 year potential earnings

to take over ELM at $8 per share is dirt cheap

i would imagine, if ELM reaches $3.50 at JORC, the starting offer would be around $5