Who was it who once said on this board that he/she would file a lawsuit if the MMP was sold for less than its true value? This is a sincere question --- I can't recall who said it, but I know it was said.
In any event, if the Company was to be taken private, then the shareholders would need to be compensated for the fair value of the Company's assets,which would obviously include the value of the MMP. Leckrone himself, acknowledged by PTSC in its lawsuit against TPL, has reportedly stated the value of the MMP is in excess of a billion dollars, and only some $270 million of that has been accounted for to date --- of course, that was long ago, before the re-certifications were completed and other alleged infringers possibly identified.
Perhaps LL and/or Fut could give us some idea of a fair buyout value for PTSC's share of the MMP. My very simplistic guess would be a minimum of $200 million --- this would be based on a starting point of $350 million (50% of the roughly $700 million left over from the "old estimate" given by Leckrone), then reduced to account for getting the money immediately as opposed to collecting it over time in future settlements or judgments. Economists and accountants do this kind of "present value" analysis all the time, but, while I use such witnesses frequently as experts in my cases, I don't have the knowledge to "do the numbers" myself.
Arguably, of course, the value is much larger, as I'm sure I'm not taking into account all of the relevant factors. But even at just $200 million, that's about $.50/share if my math is right --- unfortunately, math isn't my best subject, so for those with the requisite experience and knowledge, as opposed to my ignorance, have at it.
Best wishes to all.
