RE: price16 Dec 2016 18:13
It looks like the market is assuming that one of the parties will up their bid - and you'd think there would be scope for that when it's still a large discount to NAV. I'd be amazed a deal didn't happen as the current shareholders are mainly the old loan note holders who converted at the time of the debt for equity swap. Fingers crossed its at closer to 200p than 180p.
I like the look of PPHE. If you're looking to reinvest profits, have a look at SCS. An unloved furniture retailer which has c£20m excess cash on b/s, makes £16m EBITDA and had a mkt cap of £68m (so a 3x EBITDA valuation).