Most analysts are recommending investors buy shares in Genesis Energy, emphasising their high yield.
The shares will yield a gross 11.3 percent annualised through to June this year and a gross 14.3 percent in the year ending June 2015. As well, the bonus shares offered to retail shareholders who hold on to the stock for at least a year will boost the 12 month return by 6.7 percent.
Most analysts also value the shares above the $1.55 price the government has set; Edison values the shares between $1.75 and $2.04, while Fat Prophet's mid-point valuation is $1.75.
Woodward Partners analyst John Kidd said the offer presented excellent value.
"We've titled our report Compelling Value, which is a reflection of our assessment of the underlying value of Genesis compared to the offer price," Mr Kidd said.
The 6.7 percent equivalent return for 12 months was highly attractive to retailer investors, he said.