My thinking (on the day the bid was announced) is that WNI knows...

My thinking (on the day the bid was announced) is that WNI knows there is no way any of the Aussie holders would accept a toilet paper deal (this time substantially less generous than the one before despite BRM should now command a higher valuation - you must wonder why these prix announced the huge DSO find from one hole after the bid and the BS independent report and NOT before).

The $3.03 figure was done to condition (our expectation) that when push comes to shove when they need to mop up on market, then hopefully we would sell at circa that number.

The risk for WNI is that if $3 still doesn't draw out significant volume of sellers, then they may try extending. But by doing so, they will embolden share holders even more in not selling knowing we have these scums by the balls.