Ann: David Jones Board Recommends A$4.00 Cash per, page-30

re: Ann: David Jones Board Recommends A$4.00 ... I sold out at the open for $4.00. Rationale (a)the $4.00 bid has the Board backing (b), at 24x Woolworths are paying a very high price, I cannot imagine anyone wanting to pay higher for a bricks and mortar retailer in todays environment (c) as i don't accept there will be a higher bid for DJS then I am happy to take my $4.00 today rather than wait several months.
In short I saw no upside and only downside risk.