In my view, Fortis' offer -- a mere two-cent higher than Khazanah Nasional offer of $3.78 -- for Parkway Holdings is more to block Khazanah's ability to buy on-market than anything else.
That way, it is buying time for itself and making sure that Parkway has to up its offer or else let it have control of Parkway cheap.
I don't think Fortis intends to enter into a bidding war with Khazanah.
So the tussle which everyone is anticipating may not materialise.
Investors should remember that companies taken over after a tussle usually sucks under the new owner. Ditto for those when the suitors walk away.
A takeover may be a good thing for short term flippers and day traders but often not for the long term investors who are left to pick up the pieces which ever side wins! Or when the situation returns to status qyuo ante. Because even then, they are left to foot their share of the advisory bill for the takeover.
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