Ferg .....I am deferring back to the WHSP bid ( completely dismissed by PPT ) ....that their Bid was "in a tax advantaged structure "! To that end , I assume they have based this on the fact that they are an Australian based ASX LISTED entity as are PPT , and ROLLOVER TAX relief for PPT shares taken over would be favourably granted ---whereas KKR being a Foreign Entity would not receive the same ATO status and ruling . And I think that's what PPT has said ,,,disputed in their Opinion ...but none the less, almost certainly not worth the cost of contesting ! Time for PPT Directors to get back to their role ...that is , to represent the best interests of all shareholders . The ATO tax determination ...simply vetoes the deal ! Maybe KKR endeavours to list on the ASX in Australia ( now there's a "way out there "option ) , but that process would be drawn out , complex and expensive .......so put that into the Dump Master as well . Again ..maybe greater minds behind the scenes can unravel a better deal ...that this pitiful $20 PPT share price represents .
PPT Price at posting:
$20.02 Sentiment: Hold Disclosure: Held
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