Emeco not worth the price

Institutional investors won't pay the asking price of between $2.10 and $2.50 a share for earthmmoving equipment rental group Emeco. Large investors have said they would pay $1.90 a share. As a result the vendors of Emeco, Pacific Equity Partners and Archer Capital, both private equity investors, are considering whether to go ahead with the sale and ASX listing. Emeco is due to list on Friday.