Some might remember that I reduced my investment in Accordia Golf Trust many moons ago at slightly more than 70c a share. Since then, Accordia Golf Trust has seen its unit price gone down a slippery slope. It finally got to a point where I just had to hit the "accumulate" button. I remember sharing before but I just cannot remember was it here in my blog or during an "Evening with AK and friends" that my own research (with the help of Google Translate) found that PGM, Japan's second largest golf course operator at that time, made an offer to buy Accordia Golf's assets a couple of years or so before Accordia Golf Trust was listed in Singapore. PGM's offer back then, roughly, translated to a present day unit price of 56c a share. The offer was rejected by Accordia as being too low then ......