A: Thanks for the question.

I wasn’t following the price action that closely, though it looks like the proposal was either leaked, or certainly expected.

The takeover offer is $1.26 cash, plus shareholders will get to keep the final dividend of 2c per share.

It is currently trading at $1.205.

I guess the small discount to the offer means:

a) the market doesn’t expect another bidder to emerge; and
b) as the offer is conditional, subject to due diligence etc, there is still some risk the offer won’t proceed.