It says a lot about Australian equity markets that investors are supposed to get excited about a private equity bid for an ASX300 company at a meagre 10 times P/E.What’s more, that 10 times includes a 27 per cent takeover premium, for a target that has made money most years for shareholders, pays dividends and has a good enough balance sheet to be buying back its own shares.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
When a lowball bid looks good, the ASX has a serious problem
Abandoned by big super and obsessed with quick wins, the small-cap market has turned private equity from a last resort into its only escape.
89 words~1 min read
