campbell profit guidance, page-10

David Macoboy has stated that in the previous 12 months Ammtec has had four offers for the business. So I have no doubt that the Ammtec board would be seeking expressions of interest from these parties and the two biggest labs in the world, SGS and Bureau Veritas both of which have a very small presence in Australia.

Okay, CPB have two share sale agreements with institutions totalling 9%, but those agreements are voided if a better offer comes through. If these insto's were so sure, they would be selling them on-market right now at a higher price, instead of waiting 21 days after the offer period closes.

As for the retail holders CPB have missed the mark, if the offer was so good, they'd be selling now at $3.50.

Watch this space guys, Azure Capital is defending AEC and they will earn their keep.

Pep