@squawk Some good points there thanks. Stone might be there as...

@squawk Some good points there thanks. Stone might be there as investors as you suggest and not wanting quick profit, although FML could always do a separate deal with them after they closed the current CRE offer. If they are not interested in FML long term, where it is clear seller is under pressure to get cash back is likely to be a discount in the sales unless instos are lining up. The inclusion in the ASX300 is not rocket science and was likely anticipated by any index funds, I have noticed in past changes with S&P200 stocks the expected price action appears to happen ahead of time rather than them buying on market the day the change comes into effect.

@Blair, it is an interesting observation on the numbers, but to get cash back Stone would need to do more than accept the FML offer. My point initially was that by extending FML gives Stone more options, they can decide to accept the offer and sell the resulting FML for cash. Closing the offer would mean Stone could only really deal with FML to get cash for their CRE shares, so FML could dictate the terms. So what indeed are their good reasons for extending.