Ann: Trading Halt, page-16

It gives the company a chance to correct typos and errors (like job titles, spelling of names). Presumably the company might try to push back on the factors considered by the expert, or the weighting applied by to those factors. But the independent expert will be the one making the final decision on what changes they make, presumably taking into account who is paying them and the impact of the report on their ability to win future business.


The way I see it, if the expert's opinion is against the proposal being in shareholders' best interests there are three ways things could possibly go (in the absence of another bidder):

1. Pfizer pulls their offer.
2. Pfizer increases their offer.
3. Pfizer maintains their offer and the board is no longer bound to support the offer (Deed of Scheme Implementation clauses 7b and 7c).