I'm surprised no one has pointed out that Genex likely has to...

I'm surprised no one has pointed out that Genex likely has to complete Due Diligence on this offer and make a paper trail showing that this deal is not in the best interests of the share holders. On the face value since its nearly double the previous bid price they need to cover themselves and management and retail might all agree the takeover bid price is awful and not correct but they can't flat out just say No, if it was called into question that them turning it down wasn't in the best interests of shareholders then they will be in hot water. There are likely plenty of short term / swing traders who bought in at 13.5c and are happy with this double return. Firms like Goldman & Sachs are like any other organisation, slow and bloated or facing other work. They'll need to find resources that are probably already allocated and ensure they do the right thing to cover themselves with providing a good service.

This is my opinion and not a fact.