This is an summary exerpt from the article linked by Wilbur70. I believe the original author is Thomas Schoenmaker from Wentworth Securities.
(His words) "Summary: My view is that the chances of WES moving forward with a bid post exclusivity are reasonably high. Therefore I think the A$1.90 cash offer is real. I also think in that period of time (exclusivity), other potential suitors will have done the numbers on the asset (given IPFS has been released), and see the ability to pay more given the long term, high-grade nature of the assets. So for my clients and myself (I own KDR stock), my position is to hold on to the KDR stock, and my personal view is that $1.90 is a less than a full offer. I note JPMorgan is suggesting it is worth $3.00/s (JPMorgan has a A$3 target on the stock - DOWJON Newswire)"
My words now "I'm in full agreement that the offer is lowball. If Wesfarmers need to get over the twin hurdles of 75% votes and 50% shareholders, then I hope that all HC holders will think about it carefully, and if you agree, lobby other holders that aren't on HC to vote "No" As always DYOR and form your own view.
KDR Price at posting:
$1.87 Sentiment: Hold Disclosure: Held
