coverage in today's afr, page-5

Isn't this just the start of the play anyhow? In light of similar prices/SP offered in the market recently on takeovers, they have been ridiculously low. LLC would be expecting to raise the stakes to pursue the end goal based on market reaction.

The question is - what does buying 100% of LLP do that a controlling interest doesn't? MLC - you have anything on this?

We wouldn't expect them to start with the final price - they would be testing the waters if they can manage to pick up a bundle of shares at the bottom end of the offer.

We know from the fin reports the NTA is 55 cents, and income is +ve and expected to remain so.