Ann: Alesco rejects DuluxGroup's inadequate o, page-2

re: Ann: Alesco rejects DuluxGroup's inad... Well they reckon fair value $2.23 - 2.52, but then why was it trading at $1.40 prior to the offer? in the current market i think ALS is optimistic. DLX have stated that ALS is "not a must have". DLX state that other large holders have already accepted the $2.
the extra 10 cent div and ordinary div would also be removed from the $2 offer .
If the offer is rejected then surely the sp will fall back possibly below $1.40 level.
if housing is at a 10 year low, the question is how long will it will take for a pick up - could be years.

opinions?