On what basis has it been unsuccessful?They now control NWE and...

I strongly doubt it.
It is illegal to start with.
Why would they even consider it.
They had effective control of NWE some time ago.
50% is nice but if anyone thinks that at 49% or 46% they had less control than at 50% people are fooling themselves.
Very few people turn up at an AGM to vote.
Some people, not many, vote by proxy and the vast majority of those agree to anything the BOD wants no matter how ridiculous.
They don't even read what they are agreeing to.

MIN knows they achieved their aim.
They control NWE, and by extension the tenements.
Previously, they needed NWE's agreement to do anything re the tenements.
I very strongly doubt there will be a better offer, although the offer will be extended two weeks as I believe they will get the 50%.

On what basis has it been unsuccessful?
They now control NWE and the tenements, regardless of 50%.
To say it has been unsuccessful, you need to know their real purpose for the takeover, not the fluff in the Offer.
IMO, not a bad thing as they will push to keep things going.

DYOR.