bidder's statement due tomorrow-$1.28/share

From the ASX announcement on 1 December

"It is anticipated that Zijins Bidders Statement will be lodged by 18 December 2009.
Unanimous recommendation by Indophils Board
Indophils Directors have resolved to unanimously recommend that shareholders accept the offer, in the
absence of a superior proposal. The Directors will accept the offer for their own holdings of Indophil
shares (including any shares issued on the exercise or conversion of options or performance rights)
within 14 days from the commencement of the offer, in the absence of a superior proposal."

If the bidder's statement is lodged tomorrw Indophil shares should trade closer to the $1.28 bid price-probably around $1.25 or $1.26.

There is a quick arbitrage opportunity here (and a slower one for 5c/share if you accept the bid) if you believe the bidder's statement will be lodged by tomorrow.