Couple of thoughtsThere is no 69 cent offer. It is for .2008 of an IMG share. Thus , for the time being ,unless a better offer comes, we are inexorably tied to the price of an IMG share
Its a lowball offer ,but in a sense we are getting IMG paper at what I think is also a fairly low valuation.
Often buyouts are done when a firms paper is egregiosly (Thanks Eric) overvalued but I dont think that is the case here. So ...fair enuf
The million dollar question..is a better offer coming? I kinda doubt it but remain hopeful. Who? After all ...wasnt it allways going to be IMG. They are the player in the area and of course control the nelligan.
The stock is worth what someone is willing to pay for it...I know the valuation approximations from the PG days were upwards of 3 bucks a share but lets face it ... lately its been a thirty or forty cent stock even in the face of a strong bullion market and promissing drill results. If the shareholders reject this offer..what then...back to thirty cents and wait..wait wait .
Do you accept the offer...and hope for the next play...SUP..?
B interested to hear from those that claimed to have lots of IMG shares. We know its not the management . They have approx 8 per cent. I am assuming it is alot of small retail like myself. Garland ...u there?