RE: RE: RE: RE: RE: Price I agree. The number I used a few posts back were from last Dec.31'10 not Sep.30'11 (the most recent) and were too low. Since MAL has been profitable over the intervening 3 quarters the book value/share has increased to $5.00 (book value=$251,161,000 + $40,000,000 converted debenture/58,209,001 shares). I would add about 0.15/share for Q-4'11 earnings to come to around $5.15.
That is better than I originally thought and shows the positive effect of the ongoing profits. I still think that Edwards will consolidate his position by continuing to purchase on the open market at below book value to add to his 80% holdings. That would minimize minority pushback when he does take it private and save him money at the same time (assuming that the deal will be done at book value).