Comparable transactions and peer marks point to the bid landing above the current price.
A listed fund holding a portfolio of operating infrastructure assets has received an undisclosed non-binding takeover offer. The shares have rerated since, but they still trade at a wide discount to NAV.
I think that skepticism is overdone. Recent third-party transactions in the asset class, and the marks a close peer carries on comparable assets, both point to a much higher outcome than the current price implies. Diligence has moved into its final workstreams, so the wait should be short.
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