Receipt of non-binding indicative unsolicitored all-care no-responsibility offer from Aussie

Hey Rocket6, I wouldn't say I'm exactly doing cartwheels. The offer of $5.75 a share is a 15% premium to the share price (shrugs) but it's a share price that had been on a bit of a tear being up 43% since it's 12-month low earlier this year. Not that the market will care but I've got a valuation of $6.32 on it. Part of me hopes it's an opening gambit from Aussie but you suspect they have hand given the way OTW has jumped into a Process Deed like a seagull on a chip. The Process Deed binds them into not shopping themselves around (or even talking to other interested parties). Anyway no doubt it will go close to the $5.75 when it opens next week and I'll have a think about whether I sell and redeploy or hope for an upgraded offer.

I agree those comments about Aussie Broadband in the Australian were just odd.

[Clarification to yesterday - I realised after posting I disclosed as 'Held' yesterday that I no longer hold this in SM, only in RL].

Over the Wire has gone into a trading halt amid media speculation Aussie Broadband is sniffing around them as a potential takeover target. ABB has subsequently acknowledged it is exclusive negotiations to do just that, having raised capital recently for such a purpose.

Some argue ABB could see Over The Wire as an attractive arbitrage between OTW's PE and their own. You'd have to think ABB are thinking a bit more strategically than just that though...

[Holding OTW but not ABB]