Offer For Hume Industries Is Way Too Low

Wrote this the other day: Taking Of Hume Industries 1,2,3!

I took a wild guess and assumed that Hume Industries could ring in some 30 million in earnings.

Well Hume Industries reported its earnings tonight and guess what, I was little short. Hume Industries earnings came in at 34 million instead!

Anyway, look at the EPS for half year, it's 32.7 sen. How much do you think Hume Industries eps for the fiscal year to be? Annualised at 65 sen per share? Or perhaps at some be a bit more optimistic and assume an eps of 80 sen? Not possible.

And based on current prices, won't Hume Industries be the perfect investing gem?

Of course no.

The owners want to take this stock private at 4.30!!!!

Sigh!

Let's cheer for the investing and the great investing prospects where companies like Hume Industries can be taken private as per owners fancy.

The offer for Hume Industries to be taken private is not only seriously under valued but it makes a total mockery of the share market too!