change in substantial holding from dba, page-42

I cant see the board accepting any offer around 60-65 cents a share when expert reports will give the company a much higher current value. The only way directors will have no choice but to accept such a low offer is if SDL announce that they are unable to sell off half the stake in the project to any joint venture partner and that they have no chance in securing funding to advance the project and as such the takeover price then and only then is in the best interests of all shareholders. Otherwise $1 isnt going to be a dream as i dare say the expert reports will value SDL at probably higher than $1.