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27/03/13
17:37
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Hi Stevo
No bids submitted as yet, conditional or otherwise.
The $1.10 number is just a non-binding expression of interest.
An actual bid will need to be put before the board for consideration.
It would be great if any bid was unconditional to give certainty as to price. But this would also be a take it or leave it approach.
But with two propsective bidders I would think they may lodge conditional bids (eg. subject to board support and X% of acceptances etc etc).
A conditional bid still gives them negotiation time and room to manouvre on price against each other.
Hopefully up to $1.10 and beyond.
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