The bidding war looks like it's over.

Hot off the press today: https://takeovers.gov.au/media-releases/tp23-006

Potentia could have increased the offer price, but instead referred the perceived unfairness re process for arbitration.

I doubt that they'll come back with a higher offer, and given the Board are recommending sell to Alludo at $2.15, I've sold my whole IRL holding today at a few cents above that.

I expect the price will drift back to just below $2.15 in coming days.

The bidding war is on.

Current SP above the KKR offer, so the market thinks more is to come.