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I would agree but why haven't the "arbs" bid the price up to the offer price? I don't see anyone else offering more than 47. The outside Board members will have to do the fiduciary thing, as will the ESOP trustees, so it may go smoother than you think. Nationwide has made a pretty sweet offer to the ESOP members, and has agreed to make the mutual shareholders better than they got the first time, so why would they vote against?
Still looks like a good deal to me. Guess Allied has to wait until the 2nd to respond. Should be interesting.
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