Sydney - Monday - May 26: (RWE Aust Business News) -...

Sydney - Monday - May 26: (RWE Aust Business News) - DoloMatrix
International (ASX:DMX) has rejected the unsolicited takeover
offer from Transpacific Industries Group (ASX:TPI).
Chairman of DoloMatrix, Iain Thompson, said the scrip based offer
was inadequate, opportunistic and not without risk.
In the target's statement the independent expert said the offer
undervalues DoloMatrix and is "neither fair nor reasonable".
PKF Corporate Advisory has placed a value on DoloMatrix shares of
between 38 and 43c per share with a mid point value of 41c.
"The view of the independent expert, PKF, confirms the board's
view that TP's offer significantly undervalues DoloMatrix," Mr Thompson
said.
"Based on PKF's valuation, DoloMatrix is worth far more than
TPI is offering.
"The PKF valuation also does not include an estimate of the
special value that TPI would derive if it were successful in acquiring
DoloMatrix.
"Those could be considerable and in that event ought to be shared
with DoloMatrix shareholders."