My take.
Trying to flush out alternative bids. The to price is greater than the market price. Since the bid is “indicative”. Once firm the gap in price will disappear. The cynic in me reckons ole man Newman will have the option to keep his shares and the potential upside.
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- Ann: Nearmap receives indicative proposal, provides FY22 update
Ann: Nearmap receives indicative proposal, provides FY22 update, page-107
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