Selling on market now would seem to me to be the worst strategy...

Selling on market now would seem to me to be the worst strategy here. I'll have to check this, but as this is an unconditional cash bid, I think Ibaera can buy on market at up to the bid price. They are probably the big buyer standing at 2.8c. If you sell to them, you get 2.8c and that's the end of it. If the response is not great, they may, and I think should and will, raise the bid. And who knows, someone else might join the fray! So holding for now would seem to be the best option. I bought a few more when trading resumed because I think a higher bid will be required to pull this off.