resimac are not a bidder in the true sense - it is a merger of unequals - in essence HOM are giving themselves away to resimac with no discernible premium. the upside is incalculable at this point. i think another bidder is now unlikely given the boards complicity in a complete rollover - shareholders are happy to take the yield unless a "GOOD" proposal was on the table, if directors are fair dinkum then they should demonstrate where the value is for HOM shareholders. We become 27% of an entity where the only trumpeted fact is we have 8/13ths or 61% of the total combined loan book size - anyone elaborate ...
News: HOM Homeloans Ltd enters scheme implementation agreement with Resimac, page-5
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