With hoards of private equity prowling around, takeover offers are coming in thick and fast. Arriving in the mail daily, are Offer Acceptance Forms. Should us smaller shareholders accept promptly, sit back and do nothing or chuck that piece of paper in the bin ?

I’ve found that by accepting, the shares are “reserved” and this becomes a bit of a pain as you then can’t sell them on market (short of withdrawing the acceptance). With some takeovers like QANTAS, you don’t know if it’s coming or going. Learnt my lesson, in future I’m going to sit back and do nothing !

Any thoughts ?