Ann: WAM: T/O bid for WDE - final extension & conditions update, page-2

What a week for WDE shareholders.

WAM has 50 per cent acceptances - but fails from my numbers by 100 points on the 5 per cent market drop from the bid price.

Wilson might want to wait and see for a week but note the following:

1. These corporate actions cost money to arrange. Withdrawing the bid means the money goes down the tubes.

2. Perennial has a value bias - and value has done relatively well compared to growth stocks in the sell-off.

3. WDE option protections may have been triggered for some shares.

So even though the market has dropped 5 per cent - WDE may have outperformed the market - making it worthwhile to complete the takeover.

Pity we may not get the WAM divvy - but I think this takeover is a get out of jail card.