Hi there Blues.Your guess is as good as mine in this...

Hi there Blues.

Your guess is as good as mine in this situation.

With respect to the $4.60 offer, I expect it to go through. End of (that) Story. I have always understood that Brookfield is big and clever and nasty and most likely to get the best of any deal. Let's get over it.

I am less certain about the AETD options. There is almost certainly residual value for the former BEPPA holders. There are two parties (Brookfield and DUET) who are interested in the assets (thought DUET might have problems funding a bid) and a good chance of reasonable price discovery. There is independent oversight for the process and there are large option holders (nod of appreciation to the likes of Bronte Capital) pushing hard to ensure that they (and hopefully we) are not legged over. We may get something yet.

I had written the option down to zero until this bid hit the table. I haven't brought out the champaign yet, but I am giving some thought to which vintage might be appropriate.

Best of luck.