This scenario is covered by clause 11.6 (d) of the Scheme...

This scenario is covered by clause 11.6 (d) of the Scheme Implementation Deed (SID) between AWE and MIN. Copy attached to Post #: 29792087.

Any counter proposal by MIN to be "no less favourable" than Mitsui's $0.95 ps cash bid for MIN to re-gain pole position.

Clause 11.6 (e) talks of "successive material" proposal/s. So if MIN matches $0.95 ps, then Mitsui /another would need to raise it materially being to? $1 ps?

Then the merry-go-round would continue until ... MIN stops matching.

Clause 11.6 (f) allows AWE to withdraw from the SID where MIN does not make a counter proposal with 3 business days.

Considering Mitsui's first bid is 14.5% above what the AWE Board hastily recommended barely a month ago, shareholders' frustrations with the AWE Board are understandable.

DYOR