CVC have a history of not completing their deals in Australia....

CVC have a history of not completing their deals in Australia. Not to mention, the ongoing geopolitical and economical environments are not the best.

Their unique assessment of risk to reward might have resulted in them backing out. What new information can their due diligence yield for a publicly listed entity? All if not most information if publicly available, and this information led to their offer of $1.60 and subsequently, $2. The $2 offer was made with the exclusivity condition because they feared a bidding war as other PE firms were sniffing around. They probably wanted to suss things out without worrying about getting into a bidding war.

Rest assured, we will see how it all pans out. I am confident this company will be an M&A target soon enough, and at a price that makes the IBC happy. I am going to HODL, I accept the consequences.

But please, do not go off my beliefs and word, DO YOUR OWN RESEARCH.