has someone actually figured out the true value of the bid?it...

has someone actually figured out the true value of the bid?

it says $2.50 (less any dividends) and they have assumed cash on balance sheet is $31m for the transaction. Surely there is more than $31m of cash right now for a dividend. its closing cash balance was $57m for first half and paid a $3.2m dividend (1.5c dividend per share). So potentially another 5-6 cents additional to the $2.50 offer? I know its not much but its something we people should consider, assuming I got my math right.

If people haven't factored the above, then a $2.51 closing price today suggests people think there may be a bidding war (otherwise it should be at a discount to bid price for the completion risk). If they have accounted for the dividend, then yes, no bidding war sentiment.