Take-Over Rip-Off7 May 2014 22:23
Pfizer are a water-logged ship drifting into a storm. The storm comprises debt, investigations for underpaid tax and a dwindling cupboard of decent products to sell. The Pfi-sewer board have some dodgy snake oil peddlers within. They plan to borrow to buy Astra then load Astra with their debt, then dump and run off with the money.
Think John Bentley. IMHO today, their shares are over-valued at 28 dollars (£16.50); they’ll probably be below 20 dollars (£12) by Christmas.
Swapping good Astra share certificates for May-Day parade ticker-tape-confetti from the Pfizzilers seems one Dumb-Deal.
In a Utopian world Astra CEO Pascal Soriot would step up to the crease with a counter offer giving poor Pfizer share holders a win-win future. Soriot would promise to remove the whole board within six months and to have reduced most of the over managed structure within a year, saving millions by appointing competent people from within both companies.
Pascal could offer 1 Astra-share + £10 (around £56) for 4 over-valued Pfizers-shares.
Has anyone waded through all the dross spewed out by Goldmad Hachs?
Ask yourself would you trust your granny’s pension-pot with a load of schysters?