Hi guys,After reviewing UNV's excellent fundamentals before...

Hi guys,
After reviewing UNV's excellent fundamentals before close yesterday, I quickly became a UNV's newest stockholder.

However, I only realised that a takeover could be imminent after buying shares.

I'm a little confused about some things - would someone be kind enough to get me up to speed.

I'll summarise my understanding of the situation (please correct me if I'm wrong)

ISSUE 1:
- The UNV board are very enthusiastic about a bid of 35c (a little too enthusiastic?).
- If the bidder thought 35c was a bargain - and they had sufficient money - surely they would have already make a formal takeover bid.
- Surely, this means the consortium is not serious about a 35c bid, either because:
i) don't consider it good value @ 35c,

and/or
ii) they don't have the money to make a bid of 35c

ISSUE 2:
- The stock is currently trading at 34.5c, just a fraction below the bid offer from the consortium (which, as of yet, hasn't materialised)
- Let's hypothetically say a formal bid of 35c is received right now - assuming the bid is accepted by the board - the stock will surely then go into an extended trading halt while the takeover proceeds.
==> Where is the benefit in having our capital locked-up through a trading halt?
==> Coal has been known to be a highly contentious issue and the political environment could change substantially during the period of a trading halt, especially with an Australian federal and NSW state election looming overhead.
==> If the current share price were lower than the anticipated bid price, thediscount would partially compensate shareholders for the 'risk they take on by holding shares through a takeover.

QUESTIONS:

• Should we be expecting a bid lower than 35c from the consortium?
• What is the value in continuing to hold UNV at nearly the same price as the price of the expected bid, given there is additional risk in holding shares through a takeover. What is the UPSIDE to holding shares at the same price as the price of an expected takeover bid?
• The prospective bidder is a private consortium. My understanding is that our shares will not become amalgamated into a different publicly traded entity on the ASX. Is this correct? Are we all just expecting a cash payout @ 35c per share, and that's the end of the story?

Thanks for your help,

Jay