Not quite. When accepting the WAM offer, WAM will get the dividend rights of WDE. This means if you accept the offer before the ex-div of WDE, you won't get the WDE dividend and if you accept the WAM offer after the WDE ex-dividend, then you will get less WAM shares to the value of the WDE dividend. So, in summary, doesn't make any difference if accept the offer before or after the WDE ex-dividend. Personally, there is more value if I accept the offer before the WDE ex-div date.