discount - probable 36% p/a return

well, the prospect of a 10c gain in 6 mths on a sp of 55c you would think would be pretty darn attractive to a hedge fund, of even a s/t trader.
thats a return of 36% p/a!

and thats with the prospect that a higher bid - or bidders - will emerge.

the prospect of the current bid going a way are minimal omho, because the Proposer approached WCL, the operations of WCL are rather transparent (the bidder can see exactly what their business is), one would think they would be able to acquire the mgt in tact, and the growthe prospects are terrific.

so one would think that the Proposer needs the WCL gas, so will not go away.

cheers