NTL - It's mine, not Amer's., page-37

This guy (Antipodean, from Sharetrader) puts it well:

What we know is in the 16 June 2016 announcement (http://nzx.com/companies/NTL/announcements/284172) - Amer wants a 70% share and there is a non binding MOU to look into this further. At some point the details of the offer will need to come out and then it is up to current shareholders if they agree or not. All takeovers code and overseas investment criteria will need to be met.

At this stage the offer includes 'cash subscription' and 'profit underwrites over a 3-year period'. The recent well supported CR demonstrates we really don't need the former, and if the bulk sampling comes back anywhere near what the surveying indicates is there, then it is quite possible we won't need the latter either.

Which begs the question - why would current shareholders want in on this deal unless the price was substantially higher than it is now? Why should another company (doesn't matter if foreign or not) swoop in after years of loyal support from shareholders and reap the biggest profit?

NTL does not have a majority shareholder so no one person or group can make this occur (http://www.business.govt.nz/companie.../shareholdings).