The best result would be BPT makes a 80c script bid for DLS and DLS shares jump to 83C. Seĺl the shares and buy BPT shares which drop due to the takeover bid.
The bid fails so Bpt shares rise and you sell the BPT shares and buy back the DLS shares which fall due to the failed bid.
Outcome is you still have your DLS shares plus a very nice profit.
