the way I understood is $5 was minimum offer Ifl needed to agree for the due diligence and since then offerwas made it is not going to be revised down imo as clearly Ifl would,not accept anything below $5. Now IFL business itself is very complex and I recall even analysts in the past unable to do valuations correctly. After that they bought mlc wealth and it is now super complicated where the management was trying to simplify iit after the takeover. The valuation is going to be very attractive imo. With two bidders you would expect there will be higher offer to outbid each other for the winner. 20 to 40 cents more if I have to guess. $5.2 to $5.4 range is a possibility imo.
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