re: coles myer board rejects .. so when do they go, page-16

re: coles myer board rejects .. so when do they go I'm expecting either

a) they put a slightly higher bid to board (say $15)
b) they go hostile

Of the two I actually think b) is more likely, I really do think $14.50 is very close to a realistic price for CML and will get close to the acceptance rate they need (maybe with small sweetener).

Of course they only need to get to 50% for control, they may have a plan B to gain control and sell off parts of the business to themselves or possibly Lew (I'm pretty confident Lew will be on their side for a decent price).