I think TUI is just saying is that we can rest easy in the...

I think TUI is just saying is that we can rest easy in the knowledge that SN (and Board) will not succumb to yet another low ball offer from the usual cashed up opportunists. In the COVID era my experience has been that t/o's have been executed at ridiculously low prices with no premium for any intrinsic value - just based on say 20% above the last few days VWAP.

SN is always one jump ahead demonstrating foresight and great strategic vision with good military precision and measure as others have already highlighted. I will always remember how my face went very red when the great Gen Cosgrove told me in no uncertain terms in front of many others that it was better to plan ahead, execute and get to 80% achievement "otherwise sunshine we will run around in so many circles we will disappear up our own assholes!"

Re Haber, Initially I was in the "oh for f sake Stu stick to the knitting" camp but overcoming my youthful exuberance I saw the light in the fullness of time. Without some vision and leadership with respect to ESG we were doomed.

We can take it for granted that SN and the Board are fully conscious of their obligations regarding T/O's - again SN has been one jump ahead publicly stipulating that they do not want time wasters (quoting the wrong ABN haha) submitting crap bids like BPT/WGO.