I'm thinking they may have the 47.3 % stiched up, I think some...

I'm thinking they may have the 47.3 % stiched up, I think some kind of deal/understanding is happening regardless of a better offer.

However they still need another 25% and I don't think very many people will accept this offer. They claim that they can buy the rest on market.
This would prove very difficult as they would need to offer the full cash price for the remaining shares, and they may not have enough cash for the 10c offer let alone having to pay for shares on market at full price.
If the independent directors really are after our best interests, then I am confident this bid will fail. However I have no idea of how the directors wiil/wont act.