takeover of sel

What are pples views on CIY?

**** SEL BID Announced 14 July 2004. *****
307 CIY for every 1,000 SEL - Values SEL @ $1.40
5 CIY for every 228 SELO - Values SELO @ 10c.
Conditional upon 90% acceptance.
Upon completion, CIY will be capitalised at over $500M, and should qualify for entry into ASX200.

The buy should diversify CIY's interest into property management. I.e Diversify earnings stream. Earnings will continue to grow