mexican standoff & game of chess ?

Could there be a couple of counter-bidders lurking about (like Glencore or Teck Resources) and that the Capital Raising is just a ruse to lure the Chinese into the open with a low ball bid ?

Say (the Chinese becoming apprehensive of a Cap Raising and all the implications that goes with it - request that DML DEFER the cap raising for the time being) and bid at $1.

The board and key holders reject it to force CFC (to possibly revise up the bid and make the bid FINAL).

Then this bid get trumped by a counter lying quietly and patiently ?