What a bucket of slop, page-64

no doubt Tony however WPL will also understand what a realistic TO bid will need to be. No way will management get the support of instos at sub 10s now. The only reason i don't see a TO at the moment is the lack of accumulation. it is just a slow and steady selling pattern. Hence, like PhillW in the short i am more inclined to a CR as part of a PE. What we are possibly seeing is are the formalities where the SP is being positioned close to a CR price target. This opinion will change if i do start to see an accumulation pattern emerge and we we start gradually moving higher. WPL knows for the moment FAR can rebuff any moves in the short term - even if WPL was to make an offer there is no way it would be accepted now with other issues like PE pending. If WPL was to make a move, it would need to do it when FAR is in a distressed state or when the SP reaches a higher level. Hence i would take this off the table now. things could change though in 6 months. Hence why i am focusing on potential CR in the near term if PE rights come through. It just seems logical that if FAR is planning to exercise PE, it should be prepared with funds to follow through if the green light is given.