the first offer is not usually the last. eg : treasury wine rejected 4.70 bid and now are being offered 5.20 a month later. a 10% premium on the original offer.
will horizon come back with a revised offer considering the franking and cash component roc provide notwithstanding their field operational expertise.
this always looked interesting and looks set to get a little more so given the board continuesto support all comers.
Chinese Takeover 69 cents, page-21
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