nzmicro, It's hard to fathom that one or more of the potential buyers didn't have a crack at getting a foot in the door via a decent shareholding pre or during bidding. There may have been a chess strategy applied to the timing of the tender which thwarted such a bid.
Although I know you were taking the puss NZ, for those that took your TKO comment on face value we should just point out that even if a party got control of SSN via on-market takeover neither SSN nor the new majority owner could just pull out of the binding agreement. The agreement is between SSN and the buyer and if somebody takes over SSN they take on all such commitments. Binding agreements between parties don't go away just because of a change in shareholding which is all a takeover is. Oh, did I mention that it was a binding agreement which is of course binding ?
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