This sums it up for me - Page 13 of the Target Statement
MR VYRIL VELLA’S RECOMMENDATION AND INTENTIONS After taking into account the matters in this Target’s Statement and in the Bidder’s Statement, Mr Vella has joined with the Independent Directors in recommending that you REJECT the Offer for the reasons set out in section 1 of this Target’s Statement.1 Mr Vella also intends to reject the Offer for all Macmahon Shares which he owns or controls.
Vyril Vella is a Non-Executive Director and CIMIC nominee
Go away CIMIC, MacMahon is not for sale at 14.5 cents a share
Ann: Target's Statement, page-3
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