Hi Jezyh They have a cheek IMHO. Just as we start to see some understanding of the company's value in the broader market they come in with this insult.
They need to make at least some attempt to pay for the next 5 years growth, synergies from firming growth and shovel ready opportunities. They acted like their solar was of some value to this portfolio of wind and batteries etc. As far as I'm concerned IFN was heading for twice the bid amount in the next 24 months so they can take their offer and stick in in the nearest coal mine where the sun doesn't shine.
Given how cheap debt is at the moment I think they are hoping to renegotiate debt as new owners and get all this hard bought capital value and excellent portfolio of generation and control assets for a song.
This is a national asset and the Govt should be holding onto it as sovereign risk mitigation.
IFN Price at posting:
80.5¢ Sentiment: Buy Disclosure: Held
