"1) zero transaction costs; 2) the transaction completes as and...

"1) zero transaction costs;
2) the transaction completes as and when expected;
3) the interim dividend is $0.41 full franked; and
4) you can use the franking credits."

Well said. I have bought some shares @9.70 as a place to replace some of the cash component of my portfolio.

In addition to the above, I want to add:
5) Due to the takeover, the value of the DLX share is almost isolated from the general market movement. In other words the market risk is nearly eliminated. Instead the entire risk is in the success of the deal.