MBF's Increase Offer Still Isn't Fair.

As mentioned yesterday, MBF had increased its privatisation offer.

• PETALING JAYA (March 15, 2013): The controlling shareholder of MBf Holdings Bhd (MBfH) has revised upward his takeover offer for the remaining shares of the group to RM1.70 from RM1.50 and the offer for its remaining warrants to 70 sen from 50 sen previously. http://www.thesundaily.my/news/637245

 Is 1.70 enough?

Not even close.

Come on, the offer could and should be more generous!

Let me use the data from yesterday news.

• Currently, he already owns 535,685,704 shares, or 92.77% stake, in the company.

 MBF total shares is 577,423, 224.

Effectively, he's trying to buy up the rest of the shares or 577,423, 224. - 535,685,704 = 41,737,520 shares.

At 1.70 a share, he's paying 41737.520 * 1700 = 70.953 million.

Yes, that's his cost of privatisting MBF. (ps: this calculation is not 100% accurate because it's based on the news report. By right, I should count his cost of buying out the warrants too)

Here comes the multi million ringgit question.

MBF Cards was sold for how?

Yes, how muchie?

How? How?





Yeah.... see my thinking?

I believe the offer to buyout the rest of the MBF shares should be much more.

The owner, already own the bulk of the company already. To buy out the rest, won't cost him too much money. So I hope the offer should be fair to the shareholders of MBF Holdings.

Dare I say, show me 2.50?