Don't get your knickers in a knot over this one boys. WAM pulled...

Don't get your knickers in a knot over this one boys. WAM pulled their offer "after" Perennial made it known that they will put an offer on the table to restructure CYA. WAM's not going anywhere until they get at least NTA and that is what the original proposal sought to do - giving people the option to cash in and leave or convert the shares into the new entity. Cadence are smart enough to see what is happening also.

With Perennial entering the fray, no doubt to protect their mgmt rights, I don't think WAM want to start a fight, take up time and make it messy as they want to roll out their next fund. They will see what Perennial are offering in order to get the share price back up to at least NTA, cash out like they were going to anyway and then plough the money back into whatever they wish. I hope its not another small buyback !

My question is why we don't know the details yet !

Perennial said "on or before March 9th" - so who is sitting on the proposal ?

Secondary question is what is in the plan and how are they going to unlock the tax loss value for shareholders..... which is what the WAM proposal was endeavouring to do going forward. Closing the thing down and killing off the entity is not the answer so obviously that won't happen under any of the plans.