Ann: DLS: Second Supplementary Bidder's Statement, page-24

By cash value I mean either cash (from a cash only offer) or the cash that I can generate by selling Magnum or DLS shares on the day they hit my account.

A lot of you seem to be assuming that AQO shareholders want to hold Magnum or DLS shares for the longer-term. If they do not, all this speculation about whose share price - Magnum's or DLS's - will be higher sometime in the future is nothing but meaningless cheer leading.

As I said, maximise value first, decide if you want to hold second.