Rumours of Takeover., page-7

Ash, first of all, TO would be extremely confidential, leaking TO would be an absolute distortion to market price, and by no one's interest FBR would let it leak at all.

2nd, Mike literally said himself, FBR worths more than the current SP (5c at the time), so 10c I won't be surprised that's no way close to his expected price.

3rd, forced takeover is a hard one given the majority stake they current hold, I also remember there is some kinda of ASX regulatory protection on force take over, can't be sure.

Lastly but to my most concern, is some kind of off-market deal where Pivac's interest is protected somehow by other compensations or long term incentives, given the deep bad relationship between retail shareholders to Pivac's holding, the relationship is not in the best shape to put it the least, in this scenario it's upto Pivacs' integrity and ASX regulation to justify, but you have said you have 100% full confidence in them right?