We've kept one eye on Select Harvests' eventful week (and it's only Wednesday). And we're abundantly sure the nut farmer has earned space on the trophy shelf in the Rear Window pool room.

On Monday, the company announced two things simultaneously: firstly, that it had rejected a takeover offer from Abu Dhabi sovereign conglomerate Mubadala of $5.85 (cash) per share on the basis "that the proposal significantly undervalued the company"; and secondly, that it was raising $45 million of new capital to pay down debt through a placement to select investors at $4.20 per share. What?! If $5.85 is too low, how can directors justify diluting shareholders at $4.20? And for the lucky few tapped, that's a 24 per cent return in a single day, as the stock immediately re-rated to trade at $5.20.