I still think they will not increase their price. They already own 34%, this has increased publicity on ADI as well as the whole play and the SP will not fall below 40c on the fundamentals alone, especially after Rancho.
They increased ADI's SP by 40% in which they own 34% of the company, not a bad improvement on your wealth. Plus increased PR for next to nothing (would have taken them no more then a day for their crappy offer to be drafted and submitted) exposing ADI to new investors. Forcing ADI to reply with a Target statement, talking up their company and how good they're current operation is (and can be).
All in all, ADI will not fall below 40c after the offer expires and AWE has given a company which they own 34% of the boost (in SP & exposure) it needed for next to nothing in a no lose situation.
All IMHO
ADI Price at posting:
41.5¢ Sentiment: Buy Disclosure: Held