Hmmm, another 20c per PIH.BIP are either getting nervous or...

Hmmm, another 20c per PIH.
BIP are either getting nervous or smart.

Still falls short of the $5.08 that PIH was valued for the BBI takeover and the economy in US and AUS is far more stable now than at the PIH /BBI conversion date.

BIP will require 50% of all shareholders and 75% of shares to get the scheme across the line and if this is unsuccessful, BIP will proceed with the takeover.
BIP will require 90% of all PIH shares before they can forcibly acquire the remaining 10% if the takeover option proceeds.

If the scheme or takeover is successful, then there will be no CGT rollover available, ie. CGT applies so we are better off as PIH holder.

At this stage we will be voting NO and may end up with BIP's which we will hold onto and a CGT bill.
If enough minority holders and a couple of large holders vote NO, then we may end up being a minority PIH holder.