Thoughts now on PPT and PDL
With the movement in share prices today between PPT and PDL, does that make the takeover offer more attractive to PDL shareholders?
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Answer
Hi Les,
There are obviously a few more interested parties in the PDL & PPT equation, and we like both stocks around current levels i.e. $4.50 and $29.20 respectively. The move on PPT doesn’t help the bid for PDL because if it’s successful it will more than likely scupper the bid by PPT for PDL.
At the moment, there is a legally binding deal on the table awaiting shareholder approval and if it completes, there is just shy of ~30% upside in PDL in our view.
