Yes I agree.
I believe there has been a strong element that GXY should lose out just as much as any shareholder and not have that loss offset by a favorable purchase of the assets.
So even if a competing offer for the assets was only $1 higher A40 holders would feel better about their investment loss.
So essentially a vocal group of A40 holders wanted a sale to anyone but GXY.
Alita Restructuring_ Final Countdown, page-40
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