Why is TGM pursuing this as SD has already stated they have no interest? Is there something else at play here. And should SD wish to protect their investment, why not increase the SP for example to .50c that way the offer from TGM would no longer be competitive. The argument could go the other way for TGM to increase their SP to .25c hence 2 for 1 would make their offer more attractive too. At the moment, it doesn't make any sense. What is going on here?
Ann: TGM: Second Supplementary Bidders Statement FML T/O Offer, page-4
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