Vision Eye Values Itself at $1.04-$1.18
We wired about the goings on at Vision Eye Institute late last week. Yesterday Vision released its target statement in response to Pulse Healthcare's bid. It contained a few interesting snippets. First, an independent expert's report concluded the business is worth between $1.04 and $1.18 a share. Everyone knows 'independent' experts usually conclude exactly what the board wants them to conclude, but it is an interesting insight into the board's perception of fair value. Second, that it is also close to announcing a major acquisition. Third, it will appoint a ‘high calibre’ chief executive shortly. And, finally, it also says it is in discussion with a number of parties seeking to make a proposal to Vision. Read more (VIEW LINK)
Steve began Forager Funds in 2009, and now manages approximately $350m across two funds. Offering a listed Australian Shares Fund (FOR) and an unlisted International Shares Fund, Steve focuses on long-term investing in undervalued companies.