AustinNZ,
No, you don't need to be corrected as far as I'm aware. I agree with you 100%, you just put it better than me.
I beleive that options remain entirely un-affected by a takeover offer, until such time as a takeover is successfully complete. This means, as you stated, that all the normal characteristics of the option remain (buy, sell or convert) up to the time the FPO's are no longer available through the completion of the takeover. The options cease to exist if the FPO's cease to exist.
As far as your last comment goes, I also agree to an extent. Dealing with Options does not have to form part of a takeover offer, however the offeror needs to be aware that optionholders can certainly have their say by converting and then either accepting or rejecting the offer.
Cheers
Badfish
ooraminna 2 still at 1085 m 6 july , page-107
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