It is ludicrous to suggest that GXY will pay a premium for A40 assets.
A company under distressed and on life support can only wish they can survive and live another day, without the life support being turn off.
If one can buy the shares in the open market for 8 cents, why would you pay any more than that.
Any offer from GXY (if any) should be around or less than the current open market price.