Ann: USD 300M LOI for Sale of all Permian Assets, page-3

I think someone has decided to take advantage of the circus going on with Lone Star and decided to take advantage of the situation.
Lone Star were complaining about abandoning the previous asset sale which was for the same price. So they should now be making their intentions clear that they would want the board to just accept this offer.
I think this is a bad outcome in terms of negotiating positions for JC. It would be more difficult to push for a higher price in negotiations when it is well known you've got a meeting coming up with a minority shareholder who wants to chuck you out for rejecting an offer of the same price.