I've been prevaricating over whether to buy more all morning and...

I've been prevaricating over whether to buy more all morning and can only come to the conclusion that Suncorp appears more than fully priced at present on fundamentals. However it would be a pillar for other regionals with national aspirations or Westpac so warrants a premium prior to this deal. The market must think that Suncorp could fall ~ 10% if the deal is consummated on the basis it removes some of the takeover appeal and there is a fair chance shorting could be rampant. This in turn reduces the takeover price for Promina to around $7. On the other hand if the deal fails to gain approval Promina could easily fall to $6. I think I will just sit on my current holding for now as the risks of making a $1, losing a $1 or breaking even seem about as balanced as a seesaw!