reject the offer!!, page-124

Burnett,

actually, I am not sure where we are in takeover process
I notice in the statement to the ASX statement that it says something about Naude will take a 16% stake in the new company if a higher bid is not made

So he must be open to one

In answer to your question then I wouldn't rule out a higher bid, but BBG won't look at anything until after this 10 day exclusivity period