GGB - ASX price 40c - gbpaud @ 1.5155 = 26.5p
GGG - UK price 32p - gbpaid = 48c
local price trading at discount of 18% to its main listing
shares o/s 165m after raise of $8m, cash now apprx $28m
mkt cap using uk price - $80m
bid value for AZX 7 for 5 - using last nights close that equals 67c equivalent for Auzex
my feeling is this bid looks dead in light of Baker steel turning it down.
What does make sense is a merger, which is what they should have done in the first place. Tell the corporate financers to take a hike and swallow the egos and get a deal done.
umm..., page-5
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