My take on this as nobody else is around.Offer is $7 in cash....

My take on this as nobody else is around.

Offer is $7 in cash.

Noble have 80% and the offer closes tomorrow. It'll be extended and i'd expect the offer to be made unconditional and as such the payments will start 5 days after offer acceptance.

So via margin you can purchase at approx $6.70 and sell back for $7 within a month* (thats my estimate). Margin at commsec is 60%. Giving a return of approx 10% after costs in a very limited risk transaction.

I can not be the only one who thinks this is a bad offer am i?

NB: Offer recommended by board.