20% VGO premium for Maxis?

My dearest Minority Shareholders of Maxis,

Regarding this news report, Ananda may offer up to 20pc premium for control of Maxis

• Ananda, through his private firm Usaha Tegas Sdn Bhd and its affiliates, is ready to offer between RM14 and RM15 for each of the remaining Maxis shares that they do not already own, the sources said.
  
  This means that Ananda could end up paying up to RM20 billion based on the nearly 53 per cent stake held by other shareholders, making it the biggest deal in Malaysian corporate history.
  
  Ananda, Malaysia's second richest man with an estimated wealth of about RM16.88 billion, held an indirect interest of 47.05 per cent in Maxis as at April last year.
  
  Analysts had estimated that based on Maxis' last traded price of RM13, the 53 per cent stake would be worth about RM17.4 billion.
  
  A media conference is due today to announce Ananda's voluntary general offer, the sources said, adding that CIMB and ABN AMRO have been appointed advisers for the deal.
  
  Maxis shares were halted from trading on Bursa Malaysia on Monday. They are expected to be requoted tomorrow.
  
  Its share price, which had gained about 198 per cent since its listing in July 2002, hit an all-time high of RM13.20 twice last week. It has surged 27 per cent this year.
  
  Some analysts have said that there are merits to taking Maxis private, especially if its impending investment costs in overseas markets like India and Indonesia significantly exceed expectations.
  
  Maxis, which owns India's Aircel and Indonesia's PT Natrindo Telepon Selular, has said it plans to spend US$450 million (RM1.54 billion) this year on its Indian operations.
  
  Maxis, whose profits have surged 46 per cent in two years, may also join Usaha Tegas in taking a stake in Sri Lanka's Telecom Ltd.

Some issues that needs to be remembered.

This is a VGO and not a MGO.

So do NOT SELL yet!

Fight this VGO to the very end!

A 20% premium over the last traded price is nothing! It's really peanuts compared to what Maxis is really worth. So does it make sense to forgo the actual worth for this peanut offering?

Remember these points.

1. Maxis Net Profit is at 2.104 billion. It has surged over 30 percent the last two years!
2. Net cash flows from operating activities saw Maxis generating some 3.352 billion ringgit this fiscal year!
3. Last reported fiscal year, Maxis has invested some 2.725 billion in India. And Maxis India operations have just started contributing some 187 million in earnings!

Rm14 to rm15 for Maxis?

Is it enough or is it simply peanuts?

Would you be happy accepting a peanut offer from Maxis when given the growth potential of Maxis in Malaysia and in India?

Would you be happy accepting a peanut offer for a company generating some 3.352 billion from its business operations?

Would you be happy given the growth potential, you know very well that the company will be generating even more cash from its business operations this fiscal year?

Would you be happy at all?

Tell you what, show me rm24.00!