We exited TPG in favour of Telstra a little while ago, not long after the Vocus bid popped up.
Mainly we were worried that the deal wouldn’t go through, and our usual preference is to “take the money and run”, with regard to takeovers (or in this case, a partial t/o).
We are pleased we did. TPG is back where it was pre-bid, and now looks like good value again, without the overhang.
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