pgamble,If you were a Company like Newscorp for example, you...

pgamble,

If you were a Company like Newscorp for example, you would withhold it and put it into expansion. However, here I think the right balance of risk & reward is to return some excess capital to the shareholders. The Company still has plenty of cash reserves and relationships for debt that it can tap into, and I do see potential for M&A activities on the horizon; and like 'aussiemaddog' has already mentioned, it would be nice to see a deal done at a lower discount and therefore a higher price point. A few more suitors might see this as cheap as well and throw a few offers down. It will be interesting to see when that 'Notice of Meeting' is set down for.

That's my 2c fwiw anyways!