I'm buying with a view to increasing the reject offer but will fold once they indicate that they are closing the offer because they have reached the 80%. Under my process, they may get to 80% but NOT with my support. However, they will be closer to the 90% once I have to throw my lot in (a .3% increase at best). I'm not prepared to risk holding once they go for the delisting.
It doesn't fill me joy having to hold WNI, but as I believe the fate that awaits us, I'm trying to maximise my returns. I'm being pragmatic rather than idealist.
Holding out until the end may result in a better price, but it's not a game I'm particularly interested in playing. I've seen how these guys have played us, the board and Australian regulatory bodies and have no desire to watch my holding further devalued through whatever cruel and unusual punishment they want to inflict on the final holders.
I'm not advocating that others do as I am. Each needs to do what is in their best interests, but being a martyr doesn't rate highly in my life's ambitions.
BRM Price at posting:
$2.11 Sentiment: None Disclosure: Held
