When I spoke to the company on Wednesday, I was told that there...

When I spoke to the company on Wednesday, I was told that there was no board meeting this week and that the chances of an anouncement this week are slim.

I prefer the board to take a good look at all offers and if any are below say $3, they should work towards a rights issue,capital raising, etc. This could include part sale of assets with lower earnings/growth only if bids are good.

Announcing that bids are not acceptable and that the company will look at alternatives will drive the SP down.

It is better to have a good concrete announcement, even if it delayed informing:
- full take over at good price or
- full details of underwritten rights issue.

Then there is only upside.