They have (see below excerpt from last Friday's response)...albeit they are buying more time for further advice to shareholders
The Directors (other than the Coliseum nominee directors) advise shareholders to TAKE NO ACTION in relation to the Offer until the Directors have had the opportunity to consider the Offer and make a formal recommendation regarding the Offer. As the Offer is currently scheduled to close on 3 August 2017, there is no need for shareholders to take any action at this time.
<\snip>
PGR Price at posting:
51.0¢ Sentiment: None Disclosure: Held