Ann: Best and Final Statement, page-11

Want to explain to us, mere mortals, why this offer looked, walked and quacked like a dummy bid? Just because we think it is doesn't mean it is.

Before you claim that coolextively, Nord and SG, hold more than 40% and so the condition of 50.1% is impossible. What about the notion that one of either SG or Nord, want out of the race and this Ghanian bid offers them an exit. Not only a profit, but also a way of sticking it to the opponent. Let's say Nord wants out, I'm sure they'd happily sell at $1.05 (taking profit) and ensuring SG doesnt get CDV..