Interesting. TGM is not pitching to FML at all.
They are sending messages to the Mothership. The Mothership is beholden to Beijing ultimately and guess who has a money problem of potentially Turkish proportions.
Cheekily TGM suggest if we take over we will pay your loans. The question is: what did FML want way back, what does FML want or otherwise others want now?
No way will TGM shares be acceptable, Damn! I don't really want them myself. So it has to be a cash buyout. The sleeper here being the German pockets behind TGM.
TGM and their backers smell something. Too much time effort, phone calls and costs to pursue a whim. (I would have thought.)
Ann: TGM: Second Supplementary Bidders Statement FML T/O Offer, page-6
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