Agreed. Previously they were only diluting their registry by 7.2% with the first offer. However, with say a bid of 6c scrip (285 to 1), they would be diluting their registry or EPS by 14.2%.
This is before any synergistic benefits associated with the takeover. Ie they claim $180m saving per year, that would be $90m per year ($63m after tax). They made $131m for hy 18. They could then that could be a 55% increase.
Therefore there are plenty of synergistic benefits allegedly should MIN dilute their registry by 14.4%.
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