Last issue (Accept Offer—$1.09) we said that ‘the chances of anyone trying to buy a blocking stake are becoming increasingly remote, especially given the substantial resources required given Burns Philp’s size’. Well, ‘increasingly remote’ doesn’t mean ‘out of the question’ it seems, with more than 5% of the company traded over the past fortnight. Whether this meant someone was trying to build a blocking stake we’re not sure, but it doesn’t seem to have made any difference. Rank acquired 90% of Burns Philp on 7 November, which means it will compulsorily acquire the remainder after the $1.10 takeover bid closes on 9 November. If you haven’t already done so, you’ll need to get your skates on as the compulsory acquisition process can take a few months. ACCEPT OFFER immediately.