I'm not so sure that it is an issue, Icharus. Surely the date of disposal for tax purposes is the date on which the shareholder sells, not the date of the offer.
However, the AGM presentation suggests a disposal of the asset. That might be achieved by a 'demerger' of the EFS business, which would be equally tax effective for shareholders (compared to a takeover) if the ATO accepted it. If they are going that route, there will be a lot of paperwork to sort out first.
As to price movement: I think it pretty irrelevant if the disposal goes ahead. What matters is the price obtained for the EFS and the structure of the transaction. If the disposal route is a demerger with a cash offer for the demerged company containing the EFS interests, the TXN price will be underwritten by that.
Until the disposal and structure of the disposal is confirmed, however, it won't be surprising to see low volume selling and depression of the share price resulting from the general uncertainty in the market. Most seem to be holding, watching and waiting.
TXN Price at posting:
43.5¢ Sentiment: Hold Disclosure: Held
