In my view a suitor will always have more up their sleeve. If it's a good deal at $1.35 it's a good deal at $1.55 etc. And Ferrovial have made a huge calculated risk by trying this ahead of the finalization of the DIBP contract. They must think it's a foregone conclusion and will see a spike in the price. On the other hand, management has been very lacklustre over the last year and I'm still troubled by the look of the business. I'm likely to sell some and hold the rest for a bit longer on the basis that Ferrovial will up its offer and/or will be able to close this out at $1.35 given shareholder fatigue with this management and Board.
