ASX requirements do not require disclosure of an incomplete proposal or a negotiation. So yea nbio can fall into this category but in the current circumstances and based on the written letter the proposal to me seemed fairly ‘complete’.
I don’t see why this material information would not have been disclosed at the time. It would not have prevented further negotiations.
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- Ann: Market commentary regarding Competing Proposal
Ann: Market commentary regarding Competing Proposal, page-13
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