A takeover at these lowball levels is not IMHO a very good outcome for sholders. I do not know why a sholder would accept at these levels. Tatts and Spotless situations are with the premium that these sorts of takeover attempts need to make sense.
A current takeover at such levels appears to be a nonsense IMHO but pls DYOR.
Ann: Indicative Proposal from TPG Consortium, page-21
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