Someone please explain to me why the directors that I am paying would advise me to accept a deal that is well short of the previous offer that they unanimously rejected and which is also well short of an independent valuation that was earlier commissioned by the takeover group??
"The new figure is also short of an earlier independent valuation of Brockman’s Marillana iron ore project, commissioned by Wah Nam in August. The Jones Lang LasSalle Sallmans report, released in a market disclosure by Wah Nam in October, put a fair value of the asset at $515 - $843 million, or $3.55 - $5.82 per share."
I note that the offer is conditional on an independent assessment that this is a fair and reasonable offer!!....dont make me laugh!
BRM Price at posting:
$2.26 Sentiment: Hold Disclosure: Held
