asic summons centro for talks, page-11

Yesterday it was reported on the Sky Business channel a proposal put to CNP by the Australian Property Exchange (APX) to do a deal which would buy out all the "small" investors of CNP - didn't say any $ figures. This proposal was made to CNP 2 weeks ago, but as yet CNP has not responded to it at all. How would you view this? That CNP believes that it can do better than the APX'x proposal elsewhere? or that it (CNP) is completely arrogant to listen to anything that may rescue the "small" i.e. mum & dad shareholder? Has anyone heard anything more on what the APX's proposal entails?