If the offer had been made 6 months from now then $2 would be reasonable. COVID-19 restrictions will be relaxed into the future.
Westfarmers were quite astute ith their timing. $1.55 (including the dividend) is a good price for them.
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- Ann: Revised Non-Binding Indicative Proposal from Wesfarmers
Ann: Revised Non-Binding Indicative Proposal from Wesfarmers, page-11
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