KDR Share Price, page-121

" I still think that another entity has been buying up shares to gazump WES. "
@Finn - If by gazump you mean come over the top with a higher offer per share - I'd be interested to hear how you think they could do that - perhaps you didn't read my post or you read it and disagree - but it seems to me (I am open to being shown to be wrong -I'd like to see long term holders get better than the 1.90 on offer) - it seems to me that anyone or any group that isn't WES would need to be able to come up with more than $770 million dollars in finance without having to rely on using any KDR confidential information to persuade the financers to make that money available to them. Those restrictions, it seem to me, come naturally from the facts 1 and facts 2( the SIB clause 13 conditions) in my last post.

@cgdog

Re "IMHO no one will show their hand until the Independent Valutation Report is issued within or along side the scheme document......simply, I can see the valuation coming in at $2.50~$3.00"

You capitalised independent valuation report. The Scheme Implementation Deed doesn't include that reference in its definitions. It has Independent Expert and Independent Expert's Report which it says (p7) "means the report from the Independent Expert in connection with the Scheme setting out the Independent Expert's opinion whether or not the Scheme is in the best interests of Shareholders, and any update to such report that the Independent Expert issues prior to the Scheme Meeting."

It might be that the Independent Expert will provide a value (and it might be that that is $2.50 - $3.00 as you suggest) but I don't believe there is currently an obligation on the part of the Independent Expert to do much more than work out if the scheme is in the best interests of shareholders which involves them forming a view as to whether the offer is fair and a view as to whether it is reasonable. I don't believe I have seen a commitment from KDR that we will ever be told what the Independent Expert values KDR at. They may do that but I don't think they have to. I'm open to being shown to be wrong on that.