AWE can't lose on this bid. The forced response from ADI will put a valuation on ADI that will be to AWE's benefit as a large holder even if the bid fails. They can also then increase the bid should they wish.
Strategically, AWE would benefit from a takeover by gaining direct access to technology that they may wish to apply themselves, plus of course the direct benefit of making future profits from ADI's success. And they've done all of us a favour by making ADI defend themselves.
ADI Price at posting:
41.5¢ Sentiment: Buy Disclosure: Held
