OTCPK:PILBF - Post by User
Comment by
nkbourbakion Oct 01, 2017 8:09pm
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Post# 26764648
RE:Valuation
RE:ValuationSeattle: I've always enjoyed your posts and your analysis is great here, as usual. However, I think Vulcan's press release very clearly signals they are done.
As I said, I bought more.. and will continue to hold because I want to build cash right now anyway. But a higher bid by Vulcan seems very unlikely at this point. If they were interested in outbidding, what possible good could come from telling their shareholders so clearly that they are disciplined buyers and anything over $2.79 is overpaying? That really complicates optics if you're thinking of coming back with a better offer... and it would've been so easy to leave things open: "We'll take time to carefully consider our options, and in the meantime have received $10M etc."
Maybe I'm daft. I just can't think of any possible positive to adopting this language unless it is to be taken at face value.