What a fantastic result for holders. Large contract loss...

What a fantastic result for holders. Large contract loss recently, no guidance, high use of non-cash profits and abnormals. Goodwill should have been impaired and if ebitda kept falling it probably would have breached banking covenants. this stock was going to $1.00, not $3.00 in the medium term.
All that said, a 68% premium trumps the 59% premium downer offered for spotless. Extremely unlikely this bid will be topped, but who cares, it is a great result for shareholders and mgmt get to keep their jobs, noting fy17 eps under the current md is >50% less than when he started.