I would also be arguing that since the only justification given...

I would also be arguing that since the only justification given by management for recommending the TO price was that it was a 'substantial premium' to the trading price, it could easily be argued that the current SP has been artificially affected by the TO.

If the offer had not been made, the SP would have recovered significantly over the last 2 months with the general market and tech companies. Thus the current offer must be raised to ensure the original 'premium' is paid to holders in the current market.

I think there is very little chance the offer will be accepted at the current price given the recovery in the markets. The arbitrage has been way too tight for the last 2 months, imo, and still indicating the price will be raised. DYOR.

I think the action will happen when the bidders statement is released. Could draw in other suitors to bid or come with a higher offer from original price.

If I can free up some cash I would park here, but market is moving up too much, atm for it to sit idle here (in my circumstances).