24-06-2013, 03:08 PM
(24-06-2013, 11:50 AM)greengiraffe Wrote: Guthrie 2007 takeover offer @ $0.395 circular extracts:
...
Current unconditional offer of $0.88 vs RNAV of $1.01 also implies a similar discount. Unless of course, the new RNAV is higher than $1.01, then there remains a possibility of revision in offer. Pray hard...
GG
I think the 2007 offer was made at a time when stock market prices were sky high. Hence the IFA comparisons were against other property companies that were well over book value. It's a pretty different environment now with the same property companies trading below book.