GFRD/Bovis7 Nov 2019 12:29
The Bovis shares are worth approximately £6 a share at current prices to GFRD shareholders. Even if the Construction business is worthless the £300million plus £100 million debt transfer is worth ROUND £3.60 per share in value . Am I missing something but this deal seems to be worth in excess of £9 a share? I dont understand why the share price is still around £7.20. Look it another way. the deal is worth £1141 million. A simple division by number of shares in issue 111,032,617 equals £10.22. Why is nobody buying?