News: BLD Seven Group Unit Says To Raise Offer For Boral To $7.30/Share, page-26

they are really caught between a rock and a hard place
doing what is best for sharehoders or fight seven control

I reckon with shares this high they need to return the capital to
shareholder rather than buy back and leave it up
to shareholders if they want more share to buy on market

shares elevate around this level because of seven play but this fight is coming to an end so you probably see shares drift back a bit

seven is now in controlling seat, they can have a lot of say in future surplus cash, my guest is they will return partial surplus capital to shareholders which also benefits them enormously as they hold 30% and leave some around for strategic play and build a stronger balance sheet