Ann: Further Revised Transaction-UML.AX, page-13

Hi Gym

Whilst I hope that a higher bid is forthcoming, people buying at the current total offer price or even a bit over (maybe 3.4 or 3.5) could still make money out of the transaction.

That's because of how the offer is structured.

Quite often buyout bids have a cash or dividend component as well as a 'capital' component.

Depending on the circumstances of the 'trader' and what tax treatments are in play they could make money by offsetting say capital losses with other capital gains and or using franking credits, etc, etc.

For example, I seem to recall a 'recent' past invetsment (MES) where the shares were being bought a few pips above the official buyout price a few days before trading ceased.

So just because someone is buying at 3.3 or even 3.4 or 3.5 say, it does not necessarily follow that they 'suspect' / know of a higher offer coming.

It could well be that a higher bid is made but like I said, it is not necessarily the case.

Obviously Gym, please do not treat this as professional advice. This is forum 'chat'. Don't act on it unless you confirm it with your accountant or professional adviser.

Cheers