"Special dividends don't ward off takeovers so if Polo is going to be taken over it still will not that this has anything to do with the price of fish."
Champ you are wrong - this is clearly a "Crown Jewel" defense strategy. Polo have flogged off EXT to make itself less attractive to Laxey.
http://en.wikipedia.org/wiki/Selling_the_Crown_Jewels
"Special dividends don't ward off takeovers so if Polo is going...
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