Ann: AVID Revised Proposal Recommended, page-6

Indeed they have come up with very little. The takeover "premium" is 14.5 cents, calculated as the takeover price minus yesterday's closing price.

Assuming an unchanged final dividend of 10 cents (in the absence of this takeover) which equals around 14.285 cents grossed up for imputation, it can be said the takeover premium is approximately equal to only half a year's dividend. That's disgraceful. It doesn't pass the sniff test.