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If you used a multiplier of EBITDA it would be something north...

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    If you used a multiplier of EBITDA it would be something north of zero, but not by much. If you used a cost basis it wouldn't be much different, as most of CDC was goodwill and that is still on the books from memory. If you used a market based valuation it would be the farms and probably not much else. If you tried to do an on-market take-over it would fail due to the profile of the share register.

    So there is scant chance of a T/O coming.
 
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