Monday, July 06, 2020 7:55:27 PM
No. The sister company has developed an online sales platform in recent years. And HERB has not.
I think the plan has always been to merge with the sister company. At least since 2016 when Ms. Wu was fired or perhaps even years before.
They want a senior listing. Also, they prefer not to give the minority shareholders $400M in cash if they can give us sister-company stock instead. Stock, that could be worth $30 or more depending on how the Shanghai market reacts to the merger.
Look, I said in 2015 that this is the preferred solution. It doesn't take a genius to figure it out, when the sister company has a P/E close to 100 in Shanghai and HERB has a P/E far below 1 on OTC.
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