As someone who holds both TER and UNV stock I won't say no to a...

As someone who holds both TER and UNV stock I won't say no to a little more cash being slung my way if the offer price is increased and am actually hoping for a competing bid as I think the TER one is too low. At the very least it should be at the 33c or so they paid for their stake late last year.

It must be hard being UNV at the moment to balance a transaction which two of their major shareholders clearly want to have proceed.

Getting an IER which says the price is too low is meaningless when the market has been undervaluing energy stocks for a while now, I mean UNV isn't even trading on market at the implied value of this offer and dropped further today.

The sad reality is that something is only worth what a buyer is willing to pay.