Ann: Spotless Directors recommend shareholders REJECT DOW Offer, page-5

I doubt a competing bid would come till such time SPO can prove the next results to be better. DOW are unlikely to come up with anything better because they already have egg on their faces with their capital raising fiasco. Even if the management comes up with a guidance as per plan ,without Coltrane on board 90% acquisition looks unlikely. I feel the management believes they can turn this thing around.
I have a feeling it will go down first before coming back up in a year or two