Ann: Takeover - BCPE Offer Free of Conditions, page-9

Great info 62strat, thanks... and BCP haven't used any such language as “final and best offer” therefore, have allowed themselves the option of increasing the bid. However, I imagine they will take the 60-70% it looks they might end up with (assuming MQG will sell) and then reassess what price to offer us that chose to reject the disdainful 5.5c offer (assuming they are focused on gaining the 90% for delisting).
If they choose not to go for the 90%,like others have mentioned, I'm actually happy with the thought of BCP being a majority holder. It will leave a smaller volume of shares being traded and it looks like production will be the focus... I don't see how we can go wrong.
Sure, BCP could play the game of later keeping the SP low to demoralise remaining holders but I doubt they would go down this path... I expect a better offer to come quickly in order to wrap things up or the company will simply hold what they have gained as they are now a SH with a vested interested in strong performance and a rising SP.
Thinking it out, I don't really see why there should be fear in choosing to reject the offer. Bring on the new NDO!
Just my thoughts of course