iwi-did everyone catch the nta on the takeover of

In an ASX announcement today IWI, notified the market of its Net Tangible Asset position, as of 20/01/03 based on a $10.50 takeover price for BRL.
The figure was $3.95 per unit pre tax.
The Wine fund is not a taxable entity thus the unitholders pay any Capital Gains Tax.
Currently IWI which holds almost 11% of BRL shares on issue, plus an option to increase the holding by another 2%, is only trading at $3.13 at the moment.
This is a significant discount for a near cash conversion of their investments.
Also there is a rumour of a further counterbid above $10.50 to come.
There must be significantly more upside, and virtually no downside at these levels.
Do your own research. Only 58 million shares on issue.