[AusNOG] Soul/TPG buying Pipe ...

[Brent Paddon]

>
>
>
> One question I would really like to ask is 'Why Bevan why?'... I realise
> you guys together only had 27% - but did you have no choice?  I am sure I am
> not the only one asking 'How could you do this to us?' Is it just about the
> money?
>
>

Skeeve,

Just bear in mind here that as a board of a company that is listed on a
public exchange, the directors have to act in the interests of all
shareholders.   In the absence of another suitor, their only other choice
was to dismiss the bid as being undervalued - probably a bit dangerous given
that most brokers had them valued at around the bid price (roughly).

The shareholders would have eaten them for lunch had they chosen to dismiss
the Soul bid and things had gone south [remember MS and Yahoo :) ]...

Brent


-- 
--
Brent Paddon

Director | Over the Wire Pty Ltd brent.paddon at overthewire.com.au |
www.overthewire.com.au
Phone: 07 3847 9292 | Fax: 07 3847 9696 | Mobile: 0400 2400 54
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