CBH 0.00% 23.5¢ cbh resources limited

how much will pem offer for cbh

  1. 292 Posts.
    Here is the facts:
    -PEM intiated talks with CBH
    -PEM fail to T/O HER and is loaded with excess cash
    -Possible $200m in synergies if Merge (Takeover) with CBH
    -Toho Zinc (largest SH in CBH) would be quiet happy to sell due to internal conflicts with the board.

    CBH: currently 41.5 cents MC about Mid $300m
    PEM: $1.82 MC about Mid $300m

    I would say CBH is worth about $500m given its strong growth potential on their current projects, and given the cost savings PEM will get I think an offer for 60 cents (3 for 1) is reasonable.

    I'll still be down on the price I brought at but happy to take the 60 if it gets through.

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