independent epert report

So there we have it. Arrow's bid is at the top of the range for reasons which are well known to all. Financial constraints, lack of JV partner etc. etc. What is more concerning is the lack of a rival bidder when the books were open to all interested parties. It's highly unlikely one will emerge now since they would have to convince their own shareholders why they would pay a premium to the IER. We can argue, jump up and down and even vote 'no' but it will all be a waste of time. The only question remaining with me is do I sell into the market or wait for the pay out in January.