why are we cheaper than eldpa, page-4

I too think the buyback makes financial sense as buying anything for less than its face value is a deal.

Without PPX holders getting a divi the price will go nowhere and PPX in my opinion should be seen as a takeover target.

If taken over then PXUPA holders would be looking at $100 ie ~ $230 mill if I recall correctly.

Also if I recall correctly PPX only worth about $80 mill currently?

This may be why PPX may not want to buy back because if they do at say $100 mill (versus $230 mill) then it would be easier for someone to take over PPX.

On the other hand this could also represent a very very good reason for a buyback ie because they want to get taken over.......and I'm staring to lean this way as the strategy.

NOTE: Directors can do very well for themselves from being taken over :)

Just a reminder to all - from what I've seen it is never about the shareholders - always the directors :)