Sure, who knows what's going to happen in the future. The board has put a $11.92 price tag on the company, any offer matching that they will recommend. A bidder obviously will pay as low a price they can & they certainly won't offer above the sticker price with the first bid. GQG are the only ones with a vested interest in buying PAC & bidding up the price past fair value or they could just offer to buy the shares PAC holds in them. I honestly can't see why GQG would want the rest of PAC.
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