I thought it was going to see if it could drive out a competing...

I thought it was going to see if it could drive out a competing offer (from Geoff Wilson it now seems) and then still secure HHL at a higher price but still severely discounted from current market price. I though the price would hold up until today but it dropped off from just under the $3 mark badly on Thursday instead.

At this price it is still an open market if another party wants to put in a higher bid and then we get a bidding war but there are some complications with Peter Hall walking away at such a discount for his own shares and Geoff Wilson wanting to, seemingly, empty the coffers before Soul Pattinson get their hands on the controlling entity.

Is going to get interesting unless everyone rolls over and it will then just die a sad lonely death and disappear off the ASX with not much muttering.