Even the directors may need to go back and punch their calculators again.
The phone calls give me the impression that there may be a split within the inner sanctum and there is a lot of nervousness about the deal.
Have you guys done estimation on a benefit analysis to the directors of UMC SP at $3.00/share vs their benefits of doing the deal ??
UMC was trading at $2.8 a while back when it didn't have such strategic importance to the various parties involved (BHP, CRM,....potrntially other Chinese interest).
Believe me, the next commodity bull run will dwarf the previous SP if IOH is any guide. IOH this morning $2.29 and the previous peak before the GFC was $1.04 (more than doubled).
I know this is very simplistic, but some could argue UMC SP could be worth $6/share based on this observation, considering IOH still has plenty of upside.
UMC Price at posting:
$1.29 Sentiment: Buy Disclosure: Held
