Ann: Revised Indicative Bid from Morrison/Brookfield Consortium, page-6

It would be silly for morrison to offer 1c more than Maq bid, as they have break fee. Break Fee is basically a tie breaker

If Maq lobs $5.25, morrison will bid $5.25 in a like for like senario ie scrip vs scrip or cash vs cash

If and when the auctions moves beyond pure dollar consideration than Morrison could offer a premium.

Ie if Maq offered all cash and Morrison could not they might have to offer $5.40 scrip etc