Ann: BGH Capital withdraws non-binding acquisition proposal, page-6

Sure, that's fair enough.
But we are talking about a $1.2Bn company here... trading over $2M in shares per day. Not sure how meaningful the support of a dozen retail investors on hotcopper is going to make. Don't think most posters are rich listers

One of the ideas put forward on the conference call (y HSN CEO) - was that BGH were concerned they would not be able to dislodge some of the insto shareholders. As following the FY21 result, they weren't ready to support the offer. But basically management were a uncertain why BGH backed off, it could have been loads of reasons (better deals elsewhere, difficulty to obtain the funding, or shareholders as I just mentioned). As he said a number of times 'the door is always open'.

I am not going to speculate on who any other acquirers might be. If this was a US - business, that might be different.
Gentle nod to Atlassian's move to list in US - I think that was the right move. Tech One founder previously has mentioned that their company would have grown faster if US listed... but it might have since caught up today... PE >40 etc.