budha,
I read that too and thought "Gee what a coincidence".
If they make an all scrip bid for AAG they'll also acquire the cash and liquid assets (RUM) of circa $15m. Roughly 40cents would be a pretty fair outcome all round I would think.
SBL - I agree totally with your 'sitting duck' sentiment.
I wonder if any major shareholders are clued up as to the plan here? Would preclude them from buying on market no doubt!
JT