I calculate that this results in a 17% bid premium on an EV basis to AZX and a 36.6% premium on a straight market cap basis. At this rate the takeover is a lock.
Once GGG lists on the ASX the valuations will trade closer in line, its too much of an arb right now. Logical thing to do is to keep buying AZX.
Unless the AZX board pull a rabbit out of the hat its a done deal.
AZX Price at posting:
70.6¢ Sentiment: Buy Disclosure: Held