The takeover conditions are pretty standard - in fact, they are pretty attractive.
The guidance qualification is a protection just in case SPO have something from left field. However, given the most recent announcement that accompanied the 1HFY17 results, there is a pretty low risk they havent aired all their dirty laundry (pun intended).
The 90% acceptance level is also standard.
Having 19.9% doesn't preclude someone coming and taking a 10% blocking stake with the intention of driving the bid price up. DOW won't walk away from the deal unless it is an unreasonable position (they are put in).
Therefore, in the scheme of risks on the market, this is now something that is a pretty low risk.
A bit of patience is all that is required.
GLTA
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