bidding war, page-6

If the board were going to reject the SFW offer I think they would already have done so. The fact that they have already spent $600k analysing the proposed merger means it is more likely they will accept it.

The other aspect is the driving force behind this merger is Paul Batchelor (ex AMP boss). I think the only thing holding it up is the ego's deciding who gets to be chairman and who gets to be CEO of the merged group.