Nobody bidding cares what a handful of HotCopper posters say...

Nobody bidding cares what a handful of HotCopper posters say they want or don’t want tho, and it won’t move them or the share price either way. Retail is just along for the ride on this one as the main volumes are being traded or held by instos and funds and opportunist accumulating brokers. It will be John Wylie and other large block holders that make a final determination on the merits of what the board recommends and, again, if it goes hostile. Your point might be valid were it trading today above $5 or $6 but at these levels it’s merely pricing in an expectation based on the current bid prices.

A few weeks and months ago there was the same sort of morose downtalk here from a few randoms while we were in the 3s, saying that was it, be happy, take the deal, don’t expect better bids etc. Yet here we are. There has been substantial SP uplift ever since so imo more fool those who sold into that talk. During a takeover process - especially a multi bidder one - there will be all sorts of hidden agendas at play in chat forums while broker opportunists try to scoop up nice chunks to then block trade at a slight discount to the successful bidder if one emerges. At the moment this is basically a flutter on whether a takeover bid from any of the three declared parties so far will succeed, or whether the value of the business is deemed greater than at least $4.60. Either way, it’s pretty good buying odds imo, even if one or two still pull out.