"waiting for at least $16.50"
If you ever get such an offer and the Board rejects it, you should barricade Tooronga.
$16.5 values Coles at a PE of 26, compared to WOW's current market PE of 22. Considering that WOW are well managed and Coles are cr*ap ........
Best to hope to get the $15.50 offer back and dont even think twice about it.
Remember that Sol & the Greek bloke were willing sellers at $14.50
