If there is no competitive tension, then it should be trading around 7% below indicative bid.
If they make a bid after due diligence, it should move to within 2-3% of bid price, if there is no competitive tension.
Once the scheme of arrangement is voted, it should move very close to the bid price.
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- Ann: Revised Indicative Bid from Morrison/Brookfield Consortium
Ann: Revised Indicative Bid from Morrison/Brookfield Consortium, page-15
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