So from what I can gather reading numerous articles from multiple sources, is that there were actually 3 bidders who had placed an offer for TLT north of NZ$7.00 a share.
PowAR obviously at NZ$7.80, but one in particular undisclosed bidder was rumored to be very closely behind.
Thoughts of a potential counter-offer from this unnamed party? I would expect other interested parties around the world will continue to run numbers as this progresses, but NZ$7.80 in my opinion is an extremely strong offer.
Also being four months until the scheme meeting and ultimately shareholders vote, the political environment in Australia does still have time to change to a more favorable condition. This condition of which may or may not be a restricting criteria for overseas bidders.
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