Ramsay's board really messed up here. Both the original and revised offer were good enough to accept given the tepid growth and still high valuation of the business, and for a vast majority of the shareholder register, there was no difference between the two. Now it's up to them to demonstrate they can create more value than that implied by KKR and co. within a reasonable timeframe, but I won't be holding my breath.
Can somebody please talk me out of selling everything in my portfolio with a 10-20% loss to buy Ramsay at $56?
I realise the KKR takeover is now null and void but surely the market has oversold this and even if other vultures don't come hunting at this lower share price there is a much more sensible long-term future as well as the *chance* that another "indicative non-binding offer" at something 30% higher would be extremely likely to prop up the price for a week or two which would give more than enough time to capitalise...no?
Obviously a risky move being mostly speculation but I would like to think the logic stacks up to some degree (yes, yes... market staying irrational longer than I can remain solvent etc)