Warburg Pincus and Paulson both bought into the Open Offer for 26p old money, and also this RI for 50p. I cant even remember what they paid when they first bought in. I know it would make your eyes pop out your head though!! I cannot see them accepting 60p new money for a takeover. Unless they do a Buffet and say "We made a mistake buying PFD". Regardless, I think we are onto a winner at this price.
I don't think it would get anywhere near shareholder approval until the sp was substantially increased. The free fall of the price was probably just on the back of the food sector in general, especially the tesco debacle.
Hate to say it, but wouldn't give it the ''time of day'' as yet. Someone had the chance to take it over at 3p, but rumours started at 15p, because the company was moving in the right direction. Likewise, a bid could have been put at 26p, but more likely it may happen at 96p!!! For it to get to that level, which it will, it has to clear many hurdles. The same was of British Airways, it fell to £1, but takeover rumours started at £3. Many other examples, Corus 4p low, takeover at +50p. Cable & wireless, sold by you know who!!! Quite simply, do not applaud the SP increase until at least 50p, this is because it should never have fallen to this level.
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