I too will be slightly underwater (think my buy price was around $5). I'm not overly disappointed with the takeover offer given where the share price was languishing a few weeks ago.

They did mention that there were several suitors interested in the business a couple of weeks ago so I wouldn't be surprised if there was some sort of bidding war. Today's price action probably indicates this is unlikely however.

Given the independent board has recommended it, the two largest shareholders have said they will support it and so has the founder then I doubt there will be a bidding war unfortunately.

They must have already assessed the other offers that have been put to them and decided this one is the best.

Would be great if a takeover came at a reasonable price for one of the companies I *didn't* sell at a loss heading into the new financial year.