Ann: Variation of Takeover Bid, page-3

very true@Artvandelay01 either that or we will still be sitting on our shares in 12 months time as another $0.01 cent per share offer increase passes the table.

Mr Market has continued to keep price higher than current highest bid.. which prevents either party from purchasing on market and revising their offer to that buy price - without a healthy increase in the bid price... on market purchase by either would result in the leading bidder coming up with an extra $50million - still under what could be considered a reasonable price for IFN.

If price has a small retrace to $0.90 though, I wouldn't rule it (an on market purchase) out from happening if UAC decide to be serious and increase cash offer above Iberdolas... they are currently hold ~7% less shares than Iberdola + directors & managements holdings (as they said they will sell into the Iberdola offer) in order to have the higher potential level of holding... "to lead the race"

This is far from over... personally nothing has convinced me to change my opinion from hold to accept yet either.