atlas rejects inadequate offer

Well the announcement came,

Atlas Group Holdings Limited (Atlas) announces that it has received a proposal from Balron Nominees Pty Limited (Balron) to acquire 100% of the outstanding shares in Atlas for $1.00 per Atlas share.
The Directors of Atlas have considered and rejected the proposal. The Directors consider the proposed offer of $1.00 per share to be inadequate, especially considering that Atlas is currently trading at around $1.00 per share, with a 1 month VWAP and 3 month VWAP of $0.95c and $0.91c respectively.
The Board advises that it is in discussions with a number of other parties who have expressed interest in acquiring Atlas. Atlas has appointed ABN AMRO to assist it in discussions with potential bidders.
The Board will continue to work with its advisers with a view to maximising value for all shareholders.