with the bid being unconditional, for all those that sent their acceptances before 15 October 2008, they will have cheques mailed to them on 14 November 2008.
reading the quarterly that was released this week, my earlier thoughts were true that PMM has $300M in the Bank and that with the falling AUD the actual cash outlay for Cliffs to mop up the minorities is negligible. theis deal is a win/win for shareholders and cliffs. good luck to all.
i am on the look out for another investment like PMM that has good assets, stable cashflow and can be taken over relatively easily!!! I have a few thoughts but am not sure whether I am allowed to mention publicly as I donot want to be seen as a spruiker.
PMM
portman limited
