scheme voting, page-100

tammakand,

I slight disagree with water island capital position. Their position will return 5-6c (on 1.48/49 entry price). Take this over 4-5'ish months, with buying, FX hedging and holding costs taken into account their return is minimal - i estimate approx 5% annualised.

Do you feel that water island, with their raft of analysts scouring the global market and the best they could find to put their valuable capital into was a 5% risk free play in australia? These guys tend to seek significantly higher plays and I so dearly hope that their intelligence is telling them that there is a more than likely chance of another bidder.