arbitrage, page-17

If the vote is no, presumably there is no break fee for either party as long as HDR board has not offered any encouragement to the no vote.
Other parties can then conduct due diligence.
It also seems unlikely to me that several broking houses have colluded on a strategy.
Is it possible that several parties are interested and the buying is for one or more of them.
Interested parties could be BG, GdeF, Dana, WPL, Premier, Heritage and v.long shot, Santos.