Ann: Indicative and Non-Binding Proposal - Market Earnings Update, page-9

Please wake up and realise that in all likely hood this business was shopped and VINCI had the best offer. I think there was a Watpac article saying they had a look but SWL went with VINCI. What's on the table now is the best it's going to get in my gut opinion. Plus it's not a deal yet and the price is heading down not up. If I owned shares (I don't) I'd be exiting asap and running for the hills. What's the upside of $1.28 vs current prices versus the risks of no deal? Plus bid structure implies a huge dividend which means huge tax costs for any holders in personal names with assessable income 30%+ marginal rate.