AMS firm takeover bid by H.B. Fuller

So this morning H.B. Fuller announced a firm 285p cash bid for AMS which was also endorsed by the management of AMS. Unsurprisingly(and as stated in my initiation note), a trade buyer can extract a lot more synergies and value out of AMS compared to a private equity buyer who just play the financial leg of the trade. This was one of the reasons why I also added to my position(I wish I added more) after the bid was extended last week. So where do we stand now. I am personally a bit disappointed(not surprised) that the bid came at 285p. I suspect given the recent history of multiple interested parties another bid might appear(about 10% probability). If that is to occur, likelihood is that H.B. Fuller will still win out but at a higher price of 320p or so. So I would personally hang around in the shares for another month or so and if nothing happens I would likely liquidate rather than wait for completion which is towards the end of 2026.