$88 cash is what got them in the door for a good look around....

$88 cash is what got them in the door for a good look around. And I can understand the BOD reluctance to lift the skirt too high knowing KKR would gain much seeing what the French can show them and KKR owning a big chuck of their opposition there. It's a big deal and others would surely come knocking if the KKR gig fails as these things and the property play don't come around every day. Plenty of takeover attempts get done after 3 or so price hikes so I guess we will see. Just a note, for the smaller fry they aren't actually offering the full $88 in cash - I see they are knocking out the Divi paid 3rd Qtr which was AUD$0.485c, so if it does come good, and with no mention of Special Divi with attached franking credits, we will take home the reduced amount of $87.515. Hopefully it will get done this side of Christmas but I won't be betting on it. And that said with inflation as it currently is we are actually losing a further bob via the reduced dollar value since the offer was first indicated. Good luck all.