valuation discussion thread, page-87

Cougzen

"Why would anyone sell to ZFX through their offer when you can sell on market for greater? If you want to sell and the price is what you want , sell on market and walk away. This mindless garbage sprouted by the ZFX potatoes has become sickening."

Your point is valid for the small shareholders but it's the institutional shareholders that are the key. Those that already hold good size parcels and those that have recently acquired for a speculative punt - a guaranteed $1 in cash in 5 days give a safe exit strategy for the first group and a guaranteed stop loss for the second.

No-one in here would be silly enough to take $1 when they can get $1.05 on market but the business case is different for institutions. They will decide the outcome.