price now 2.12, page-8

danr

my point about hdr trading at $1.20 wasn't whether it was worth that or not, but at that price "others" could have made a bid at anytime before it reaching that level, but didn't. That is why I doubt another offer will be forthcoming. My main argument at this point regarding the shareprice being around $2.10 is that this price is completely consistent with tlw's offer given the share conversion option and tlw's prevailing shareprice.
Just because it is trading above the cash component of the offer doesn't mean people are expecting a higher bid, it merely reflects the share conversion component of the offer.
Just amazes me that people don't understand that.