Isn't it a breath of fresh air to finally have someone wanting to buy this.
Or should I say lots of people with big appetites.
Its nice to have the choice of taking 53 cents today or waiting for the possibility 55 cents plus a few franking credits in March.
There is always the possibility of more which of course is balanced by the uncertainty surrounding fulfilment of the conditions.
I guess the directors who are substantial shareholders canvassed all other likely suitors before agreeing to the current offer so a fresh bidder is unlikely.
Joh B P famously said one should never hold an enquiry unless they know the outcome. I guess the directors who all support the transaction will be hiring a specialist who will massage a fair and reasonable conclusion.
It seems that its only in hostile takeovers that the Hired Gun comes up with a not fair and totally unreasonable conclusion. Funny that !
So IMO there is little possibility of a higher valuation that could scuttle the agreement, emerging to try and push the bid up.
