But is the offer fair at a 20%+ discount to the written down nav which certainly undervalues the Pienaarspoort properties? I for one am not selling, unless forced out...the "nuisance" value of eliminating minorities from the corporate structure justifies a better offer.
RE:CM may well take the offer since they have other ideas for the capital. That still won't make the offer fair - and certainly not for the small investor. Don't you get fed up with these buyouts (forced) of the value counters?
Certainly, but unfortunately part of the risk in dabbling in these counters. Deep value often stays just that but then you do get the FGL's - well you did. Wonder when the ANA offer will come, as the costly listing just doesn't make commercial sense?
They have been playing games with ANA too. Currently sitting with over 2% of her equity. Went and had a look at her properties in CT the other day - just to reassure myself. So you're in this too...? We should follow the lead of cetain investment house and start talking incessantly about it in the hope of a price breakout.