I may just be misunderstang you, so apologies if I have, but I think you may have missed some of the wording in the ASX release when NWC first disclosed the Scheme Implementation Deed with CAML. Yes, the SID contains customary exclusivity provisions (no shop, no talk and no due diligence, a notification obligation and a matching right in favour of CAML), but that doesn't mean NWC can't accept a superior proposal in the meantime.
Under the title: Board recommendation and voting intention.
"The New World Directors consider that the Scheme is in the best interests of New World shareholders and unanimously recommend that New World shareholders vote in favour of the Scheme at the Scheme Meeting, in the absence of a superior proposal and subject to the independent expert concluding (and continuing to conclude) that the Scheme is in the best interests of New World shareholders."
NWC Price at posting:
5.0¢ Sentiment: Buy Disclosure: Held
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