Thanks for that Phillip, must say that it is a lowball offer in...

Thanks for that Phillip, must say that it is a lowball offer in my view and that the only reason they would be doing this is if there is a rail solution at hand, and if that is the case then the management of both companies will have a duty to either disclose that or to reject the offer.In the case of FRS the vote will come down to the directors as they have control or influence over a big majority of the votes.Having said all this the sp of frs would probably not be as high today if not for wah nam buying all those shares and with the pfs due out any day it would be interesting to see what their strategy would be if the offer is turned down. cheers.