I have also been an investor since IPO. While a number of us believe (including me) that value is significantly above 35c the reality is even with a binding bid on the table UNV can't trade at even 35c. In comparison, Stanmore a company with similar bright prospects trades at a 10% premium to the offer price.
I feel there will be an increased offer of circa 40c with maybe the prospect of an additional dividend. Ultimately, I leave it up to Tony to decide - if there is an improved offer and he is happy to recommend and move on that is good enough for me. The trading history of UNV for many years indicates it will never represent fair value and expect IER will say as much. Is something in the 40-45c range reasonable - yes in the context of where UNV is likely to trade....harsh but the reality of the market. If investors though otherwise (including existing holders) this would not be languishing at sub 35c.
