No idea on the Australia side as that brings in change of...

No idea on the Australia side as that brings in change of control and other factors. I don't remember reading anything about that either in the target statement.

In other T/O offers in the past the franking credits were highly valued, but as ADI doesn't pay tax on its 'operating income' as there is none, there are no such franking credits from that part of the company's operation.

If they paid tax on the Yemen gain, then that tax paid could be used for franking credits, but again I haven't looked at that and the amount wouldn't be that great....

In the USA where the income would be generated, I believe that the losses are available to offset income within a certain number of years.

However, that nut in the whitehouse has put forth a plan to wipe out a lot of tax offsets and credits for companies in the sector - sort of like rudds super stupid tax on miners here.