What is the rationale behind your investment decision to...

What is the rationale behind your investment decision to allocate funds to the RMIT units, BB? You must firmly believe the deal for RNC will not go through? Otherwise you would be much better off buying RNC in order to gain your exposure to RMIT, IMO.

Let's say you can get into RNC at current levels of 15c (300,000 shares for $45k), if the deal goes through you will double your capital with the cash portion of the offer (30c), plus you will receive 8c of value in RMIT units ($24,000), and you will receive c.4c of value ($12,000) in the Agentplus completion.

Invest $45k into RNC, the deal goes through and you will receive proceeds of $126,000 in cash and securities (pre-tax). I realise there is ample risk that the RNC transaction will not go through, but it is unlikely you will want to be holding RMIT units under that scenario as it means the RMIT listing was poorly supported.

Just my initial thoughts, happy to hear contrary views.