the largest shareholders are the lenders(hybrid securities at 90% value of CNP ..and CER is 51% controlled by CNP).. the largest creditors are the lenders..thats why directors have taken these 'so called' bids to them first, and probably asked them what they should be doing..
No one is interested in a play where the banks get the 'win/win'
Look at what happened to Alinta SH. (hint)