I'm tipping this committee would be mandated to assess the bid within 14 days. That's this week. Hopefully, the company will announce that the offer undervalues the assets prompting a revised offer shortly after.
There's a lot of risk in today's market so I'm hoping Mr Market doesn't have a fit about the rejection and punish the SP. It would be counter intuitive but we know how irrational the market can be.
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Ann: Preliminary, indicative and non-binding proposal received, page-241
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