End of UNS world as we know it, page-21

On the talk of a take over.

If one was wanting to be taken over, one would want as many people bidding as possible.
The usual process.
UNS has cut off all dealings with any other bidders/offers.
The Jan 4th announcement stated what was to be negotiated - no mention of t/o.

So if people are talking about a t/o now, then anybody with half a brain would want other bidders bidding.
And I don't see Shortall talking t/o - he would want more than what would be offered - so then it would have to be a hostile t/o.

Now if a t/o was on offer, then the board would have to make recommendations (and announcement) if it agreed to the terms. Then other companies could make counter offers. That is how t/o's are done - not behind closed doors. JMO.