Originally Posted by
Mr_App
Mick, what price would you put on Rex?
The market is the final arbiter of value. Currently, it says Rex is worth $1.43 a share for a market cap of $149.8 million. And that's after factoring in Rex's 50 percent ownership of NJE.
Under usual circumstances you'd expect a bid of less than $200 million to get the deal done. The circumstances with Rex though are not usual; a fair whack of the shares are tightly held by the Gang of Five. KHL together with any two of the others hold a blocking stake which means an acquisition would need to be on their terms. So the question is really, what price do they put on Rex.