IMO, the most likely strategy behind the BB is a T/O related as theorised by @sillazze a while back. The reduction of shares plus conversion of some management/ staff options will ensure that JP and co. will have control of an offer acceptance or not.
If so, that would lead me to conclude (regardless of public comments) that a near term T/O offer, acceptable to management, is the strongly preferred pathway ahead. The question then remains - what is a figure that would be accepted? They know, but we don't. Also, they probably have a pretty good handle on the likelihood of achieving their price.
Their position remains very strong - if they can't get it they will proceed with the P3 option without losing (public) face.
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