Ann: TNK Appendix 4E Preliminary Final Report, page-4

With Mat holding all the cards - i'd be surprised if he accepts either current offer, given what he has built over the last 4 years. I hadn't realised how many centres they are adding each year (without constantly raising capital to fund the acquisitions). It certainly is a superior business model for the sector. See G8 are still trying to sort out their large rump of underperforming centres (that they bought from the market)!!