Ann: Second Supplementary Target's Statement to UAC Offer, page-23

I can probably answer that in that I only just joined HotCopper, in order to try and make sense of what is happening to Infigen.
Confusion is what I felt, and you guys have helped demystify it, though I have yet to come to a decision.

I am now rereading the latest envelope of letters and offer received more carefully and it is even stranger, than I appreciated.
It contains a glossy 77 page fancy book from Iberdrola which is fronted with a unanimous recommendation from IFN directors recommending acceptance.
Fronting that is an 8 pager from UAC explaining their lower albeit superior bid. There is nothing from IFN explaining what is being presented.

Personally I would like to keep the shares, am not obsessed about highest price, and hope they will focus on improving dividends. I like the business. Am not sure either bid aligns with my goals! So it seems derisk now and sell on market, or be patient for a higher bid and accept share price may float down if neither bidder achieves their targets. I think I will be patient.