Ann: Phoenix Advises REJECT Evolution's Takeover Offer, page-59

Absolutely.
There is only one risk imo to this and that is too much ecposure to evn sp. I would like an oncreasrd cash bid say 9 c. Then not as risky when evn shares exchanged for pxg. Remember no one has a clue to what will happen to evn shares post offer. If minimal take the offer evn will be forced to sweeten. If many take it maybe an extension. The problem is the value can change once if the sp falls down. My gut feel is evn will be pumped to at least 1.50 plus levels. If pog goes up even better for evn. They will then gauge how much selling occurs at what price. They will then add a sweetener in cash to make it compelling.