I think I see what you mean. CQA told ASX that due diligence on...

I think I see what you mean.

CQA told ASX that due diligence on Priority One had been completed, with favourable results. The board of CQA said it was therefore preparing papers for shareholders. The shareholders are the company and make the decision.

Now CQA's board has cancelled the takeover, without consulting its shareholders for a decision and without telling shareholders how this stuff-up happened.

Who pocketed CQA's half a million dollars of shareholder funds to do the due diligence? If I was CQA I would not pay the bill.