The offer plus dividend totals $22.75 and the closing price was just over $23. So whilst the offer is for a maximum of 3/8 of the available stock, the market IMO seems to be applying this price to 100% of available stock.
What do you think will happen to the price when the buyer acquires the 3/8 it seeks and withdraws from the market? Personally I consider the price will drop back, possibly below the $20 mark.
The above numbers exclude about 15cents of franking credits and dyor.
AP
sold out, page-7
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