I doubt more parties were granted due diligence, as that might...

I doubt more parties were granted due diligence, as that might be a material development that will require disclosure.

I think what is happening is Bingo has engaged independent valuers to value their business and assess the offer so the board can recommend it. In the meantime CPE have probably just completed their due diligence and have been negotiating with the board.

the board have probably indicated what they would support maybe an ask for $4 to support the deal subject to independent valuers report - CPE are probably considering their position at this stage and their counter or final offer.

The time that has lapsed is a good sign, because it means that CPE have done their due diligence and haven't pulled their offer, so likely they re negotiating and still keen for a deal. But sorting out the terms and detail is not easy. The added complexity is they probably want the founders to remain in the business with an ownership percentage.

all in my opinion.. anyones guess.