takeover offer for ipl, page-12

Well I guess everyone now knows the reason for hording the cash now. I give them a chance of getting IPM. I laugh at everyone saying a 35% premium is so undervalued. Its been valued by the market at 97 cents prior to the takeover and still less then 1.26 now. According to the IPM thread it should be a 50% to 100% premium. It seems pretty reasonable premium to me. The IPM shareholders should be grateful for this bid. There has been harldly any takeover bids in this bear market cause acquisitions only happen usually in bull markets where company's think nothing bad is going to happen eg AGM and JBM during high NICKEL prices and a base metals bull market. Good on MS for capitalising on this opportunity where no one else has the guts to look for growth in this market. A 35% premium will be hard to defend in this market just like if cooper was offered a 35% premium they couldn't defend it either. The institutions will be desperate for some capital gains. COE still taking risks on IPM exploration portfolio delivering and the oil price remaining buoyant. These uncertainities should discount the premium.