Ann: Scheme Implementation Agreement with AVID, page-15

Morningstar has a valuation of $2.56, please feel free to correct me if I'm wrong but I thought that most takeover bids are on average 20 to 40percent above valuation if this is the case why are they considering selling out below valuation, I realise the property market isn't where it was two years ago, we all know that the market will move higher in the future so why are they considering selling at the low point in the cycle,