The Takeover Code asks the Independent Expert to declare if the offer is fair & reasonable.
I must admit I don't know the definitions for the use of those terms but my guess is it is reasonable. Fair? Not sure. But I'm happy.
I was just trying to introduce a very small possibility of an industry player placing a higher value on 25% of GWJV and that it was strategic enough to enter the fray.
We have done well.
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