I'd expect $8-9 a share will be the final offer either from AusSuper or an alternative. Infratil is mostly held by institutional investors, so short-term gains will give them big bonuses. That's the problem here.
As much as I'd like AusSuper to walk away if the board recommended a rejection I highly doubt that'll be the case because of how scarce these types of assets are.
Let's just wait for tomorrow to get all the details. I do think either this offer or the next will see the end of Infratil unfortunately.
The question now is, where else do you go to get quality assets like this? I see we are keeping Trustpower (a hydro play).
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