An acquirer seeking compulsory acquisition of shares under the Corporations Act is not precluded from adjusting its proposed acquisition price upward after receiving the expert's report under s 667A; the legislative scheme requires only that the price ultimately offered gives fair value. An expert's report under s 667A(1)(c) must furnish the reader with an explanation of the basis of theory or experience upon which the expert's conclusions rest, encompassing criteria enabling evaluation of the validity of those conclusions, but need not be beyond criticism before a court may act on it. The court's role under s 664F(3) is to determine whether the offered price gives fair value, which may require assessment of competing evidence as to asset values, not merely acceptance of the expert's report without scrutiny. Valuation for compulsory acquisition purposes must be assessed as at the date of the compulsory acquisition notice, without hindsight.
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