Ann: Recommended cash offer for takeover by schem, page-8

re: Ann: Recommended cash offer for takeover ... What I am finding interesting is that there is a discount to the takeover price of 15% even though the deal is relatively small scale, finance is already approved and you would think that due to the small size of the deal it wouldn't have any issues with regulators.

Admittedly the process will take five months for completion however a 15% discount does seem like an excessive spread for a relatively straight forward transaction. It provides a real merger arbitrage trade for those in the game.
In any case I think there is a good opportunity for a higher bid so will probably wait the entire time.

I am the Iceman!