No other suitors?

It appears that plenty of work had gone into getting the Scheme of Arrangement with Precision Aviation to the point where it could finally be presented to shareholders.

This to me implies that PTB could have been hawked around from a fair while back, at which time Precision's initial interest most probably would have been piqued when the Australian dollar was 10% or more stronger than what it is now.

Precision must be counting their lucky stars, as the acquisition price in US dollar terms is getting cheaper by the month. But it begs the question: Why haven't we heard from any other US-based suitors who should by now have easily trumped Precision's fixed price Aussie dollar offer?

Is it because the increasing cost of financing the deal now make it prohibitive? Or does the expanded PTB still operate in such a niche area that there are few companies interested in acquiring it to begin with? Whichever way you look at it, it's increasingly looking like the PTB board have done a brilliant deal for shareholders, especially with markets, and the international economy, heading south.