3 weeks on - no other PE has stepped in
IBC says disappointing so they are no position to recommend
As per conditions, board need to recommend bid at 1.4, so in current form this deal is dead IMHO
so can they negotiate a lift to 1.5 or 1.6 to get the deal approval (in absence of superior offer ) or back to $1
must be close to an Announcement
Ann: Non-Binding Acquisition Proposal and Business Update, page-55
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