The bid proposal was sent on the Saturday Morning the rejection...

The bid proposal was sent on the Saturday Morning the rejection was Monday Morning, there was time between then for the company to complete its own due diligence. GNX isn't AGL, they've outsourced their own due diligence it seems. They could say No outright if they wanted, but would you want to get into a battle with shareholders who bought large amounts of this stock at 13c and could have made an instant double profit and then rode of into the sunset, especially if this tanked back down to 13c (which I doubt it will but why risk it)? 4.6% premium compared to a 70% premium is a large difference.