The recent buying by several major shareholders at 11c was to...

The recent buying by several major shareholders at 11c was to build up a blocking stake. Now that has been achieved the bid looks dead.

The major shareholders wish to remain shareholders by the looks of it , the company needs capital to repay debts and for working capital going forward so its possible there is a placement or rights issue to stop this bid completely.

Even if MAQ increase their offer by a few cents these major holders are still likely to reject it. BPF should release new financials for this quarter early 2018 so shareholders can get a true reflection on what its worth to a bidder.