I really hope the offer is not successful, but it likely will be. At the very least I hope we get something less insulting. I wouldn't even start thinking about taking an offer below 60c (unless it's becoming obvious that a takeover is going to be successful) and probably wouldn't want to take anything below 70-80c.
I've held EKA for years waiting for the share price to catch up to the fundamental value. I really do think that without a takeover offer we'd be getting something around $1 before too much longer, probably within a year, and well about 45c well before then.
To be taken over at this point, before the value of the Brioche has been demonstrated, and while we're so undervalued (even at 45c and ignoring Brioche and Pan de Azucar) would be terrible.
EKA Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held
