regret

lorri--i apologise for calling you thick and i should not have done that--i get really annoyed when people get their facts wrong,particularly when those facts have been out there for ages--for your benefit,AND closed at 29c today and therefore the KCN equivalent is $4.35(15 times)--of course KCN is nowhere near that figure and therefore not acceptable--you can ignore the piss-ant0.3c allowance for the dividend,particularly when you take into a/c the CGT(capital gains tax) that AND shareholders are obliged to pay, because the take up needs to be in excess of 80%--i have personally written to the KCN chairman(Smyth-Kirk) pointing this out--he has not had the courtesy to reply,probably because he choked and fell off his chair in shock--in my case,the CGT liability could be as much as 5c per share,which means i have to get 29c+5c(KCN$5.10) to make it worthwhile-- if KCN can improve their offer to achieve 80%+ take up,then AND shareholders will not be liable for the CGT and that would improve their chances considerably--hope this helps--cheers
ps,do not ignore the prospect of another offer