Plough - disagree with one of your points.
TTY have far more to gain if they acquire OLY - sure they might see a few extra $$ if someone else comes in with a better deal based on the on-market stock they've picked up - unfortunately this is a short-term small gain, there's a hell of a lot more upside in the long-term for TEE by acquiring OLY.... Without a doubt OLY would up their offer to alot more than 10c if another bidder came to the table.