possible arb play, page-11

MJA, sorry but thats just PURE rubbish, unless you mean TMR will trade in the high teens at worst case scenario. TMR has traded above the 18.5c level for over 6 months and traded fairly range bound between 19-23c. TMR is undervalued on its own and prior to the merger was looking to break out to the upside at or around 30c in my opinion. The cost of this little effort to take over IBR is a pinch in the ocean of money TMR are making and will triple making in 6 short months time.
There is little to no downside for TMR if the deal falls through however the IBR case is more certain to retrace if there is no merger.
Thats all subject to what they are holding up their sleeves as far as recent developments. I am sure the ASX announcements have dried up since merger announcements have been made.