United we stand divided we fall, page-73

It is impossible for Mac Bank to offer us s/h a Scheme, without the consent of the CTP board - because it is CTP which makes the proposal to CTP s/h - not Mac. The Scheme would be a Scheme put to CTP shareholders - so Mac has no part in process, cannot vote, and awaits outcome. So it is all up to CTP board.

If CTP board will not accept a Mac price, then the only alternative would be for Mac to make a non-recommended offer. And the most effective way would be an on-market cash offer. Which is what other posters have already suggested. Mac would not drip-feed buy on-market because it would push up SP and they probably would not get the volume.

The Chinese did an on-market cash offer for Westside Corp (CSG) a while back, because WCL board would not engage. The 2 biggest s/h sold out from under Board, and Chinese were successful.

trouble is, that on-market offer, with no board recommendation, does not guarantee Mac getting 100%.

cheers