IMO the $1.35 Offer is another opportunistic bid, which enables...

IMO the $1.35 Offer is another opportunistic bid, which enables BB to undertake due diligence without any significant risk - the fact we know that MFD has increased guidance for the latest financial results suggests the Company is confident that the centres are on the improve, from a relatively low earning base.
"Underlying CY22 EBITDA forecast to be within the range of $12M - $12.5M representing asignificant uplift on CY21 EBITDA of $7M and a step change in growth on prior years".
and
"Occupancy continues to grow, with occupancy for the week ended 28th October 2022 of 74.5% reflecting an increase on 1H CY22 occupancy of 66.7%".

There is no doubt there are and have been issues within the industry, but from such a low base (affected in prior years by covid) MFD financials will improve based on continuing growth of occupancy levels.