There is always the risk that a takeover does not take place- so...

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    There is always the risk that a takeover does not take place- so there has to be a risk premium.

    There is the time value of money- you want a return for the period that your money is tied up.

    There are quite a few takeover/merger bids that do not go the journey- late bag holders can take a real bath.

    There was a good discussion on this with a guest on Money of Mine podcast about a month ago or so- recommended.

    IMHO DYOR
 
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