I think the best hope for a higher offer (in the absence of...

I think the best hope for a higher offer (in the absence of someone else coming in) is that the independent expert report says the offer is not fair or reasonable.

However my worry is that they deem the offer not 'fair' (ie value is not there) however deem it reasonable becasue there is no other offer and the SP may decline if the TO doesn't go ahead.

Though if the it comes in not 'fair', raising the offer to eg. $2.10 would mean only an additional $80m for Wesfarmers to pay - ie. pocket change for them following the Coles demerger. Lets hope this happens!