Whatever the offer price for PXUPA, it's almost certain it will...

Whatever the offer price for PXUPA, it's almost certain it will be deemed "Fair and Reasonable" by the Responsible Entity.

This is because it's almost certain that the offer will be pitched at or above the last trading price of the PXUPA units. The Responsible Entity has committed itself to valuing these units only on the basis of the last trading price, because it simply hasn't got the foggiest idea how to come up with a proper valuation any other way, judging by today's half yearly release.

Therefore, an offer for the units today at, say, $12 can only have the blessing of the Responsible Entity.