Ann: INTECQ LIFTS NET PROFIT BEFORE TAX 42 PER CENT FOR FY16-ITQ.AX, page-5

Yeah I dont think so either and it is now on a PER multiple of 20 so the bid is fairly priced.

Other bidders will also know TAH will want this more badly given the synergies they can extract and the deep pockets they have. Hence why waste time on a DD and making an offer when you know TAH will counter and push it higher anyway.

It seems to be where it is at and we just have to accept it and move on.