Looks to me like PEM sees CBH falling by the wayside and picking up the pieces after CBH collapses... Why else would they reject the 3.5:1 revised offer?
CBH is obviously in a little strife and PEM can stay it out for some time.
Interesting moves..
Cheers
Quik.
Looks to me like PEM sees CBH falling by the wayside and picking...
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