I think dragging the SP down is not a negative from RG's point...

I think dragging the SP down is not a negative from RG's point of view. Every time it dipped he was buying up, and when it come into the 50's. He started to move his men for the bid. The only thing I don't really agree on in Bens assessment is that he will stick to his words and not pay dividends in the short to medium term. The reason why I say this are there is a small chance that RG needs money from his investment to keep things turning. My reasoning is even rich people don't just have piles of funds sitting in cash. Also any dividends could be simply used to buy out the remaining shareholders.

Also I haven't done the calculations. But I suspect 6 months from when the bid expires might align to be just before the release of the half yearly results and therefore any dividend payments. So it could be no dividend ends at the end of year results. But maybe a small one at the half yearly announcement perhaps?

Happy to be challenged I am not the most experienced investor here.