charlie aitkin report, page-18

What people seem to forget, or do not understand is the procedure that people/managements have to take when bids have been received. Especially, as in the case of AIO where there are, as mentioned before, about 5 bidders.

You just have to consider that, they just can't come out with say, bid 1 is for x amount of dollars. Bid 2 is for x amount, bid 3 if r x amount and so forth untill they are all finished, and therefore recommend THE HIGHEST BIDDER ON PAPER.

What Management and advisers have to do, is to look at every individual bid in full details. Not Just the bid amount, but also all the small prints attached to it. That small print can mean a lot. That print may say that beside the original bid, which may have been lower than someone else, could offer say fully franked dividends to be allowed to be paid by AIO prior to the takeover being finalised, and a miriad of other options.

Hence why the Management has to take it's time to look at all of those condition properly, and going over them all with a fine toothcomb. If they miss something they can be liable from a class action by someone down the track. And, in today's world of litigation, anything is possible.

Although I can confirm, that I am just as impatient as anyone else here, I agree with them that they have to take their time to do it properly, and pay it full due diligence.

In the end, it will be better for us all if we have patience for the proper outcome. I am confident of that.

My thoughts,

Buddy