A few comments on the share price: For any deal that is...

A few comments on the share price:

For any deal that is progressing to completion, with a probability of completion of close to 100% and the possibility of a higher bid of close to 0%, you expect to see the price slowly creep up to the bid price as the date of payment comes closer. Compared with bank interest - a 5 cent increment on a deal that sees cheques in the mail in late June is currently reasonably attractive and this gap will slowly close as date for payment come closer.

Personally, I bought in again last week because a) I'm happy with the time value of money reward if the $1.75 deal goes through, and b) I think there is a possibility - percentage chance hard to assess - of a higher bid from a third party, and this possibility is not being priced in at present.

I agree with the comment that if a higher bid is coming it will be in the next few weeks. A counter bidder would generally wait until they have had a chance to review the Scheme document associated with the first offer before declaring their hand.