A lot here are assuming that BGS will accept the offer. My take is either:
1. BGS received an unsolicited takeover offer out of left field that it is now preparing a 'reject' documentation for.
2. BGS is in discussions with proposed JV partners to stump some capital for the project to proceed to development, and one of these JV partners has decided to go for the lot (see 1).
3. BGS wants to give the deposit away and was actively seeking a takeover from someone.
My bet is 1 or 2. Doubt it has anything to do with 3. Have seen this before with spec companies that find something and then are on the way to the next stage and then need to fend of such moves. Also the offer may be a script offer rather than cash as I note many here are assuming cash. All IMO and yes I am speculating as well and good luck to you all.
All IMO and yes I am speculating as a non-holder.
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