The Perennial offer was never worth considering anyway....

The Perennial offer was never worth considering anyway. Obviously "out of respect" that it took the Board of Directors this long to tell them NO.

The WAM offer is now long gone and Directors have to carry the can on not pushing forward with that offer - maybe we need to wait for Perennials contract to be torn up or expire before we can unlock the full value. However to keep the tax losses I think they need to keep the structure and the similar business (investing). Maybe once WAM Leaders is up and running they will come back with a takeover proposal, remembering WAM was going to unload the bulk of its holding via that proposal. Tax losses are worth money, but only to those that make profits !