I'm not happy either, but there are a couple of potential...

I'm not happy either, but there are a couple of potential positives for me. The first is that Vinci, is unlike Cimic (who I dealt with on another takeover). Cimic made a lowball offer and refused to raise it and kept extending the offer until they wore people down. Vinci's opening gambit was basically around 1.40. That leaves room for competitor bids and could easily drive it over 1.50.

Secondly, I got my wish about franking credits. These might not matter to someone who is earning a high enough income, but for people like me (retirees) they are the icing on the cake and I can factor them into the final offer.