From reading the article the $1 wasn't an offer for the entire...

From reading the article the $1 wasn't an offer for the entire group. But rather an offer for an equity injection, which in my opinion the banks didn't want as this would dilute their shareholdings. So if $1 was rejected by the board for a part share of the company, then the company should be valued a lot higher.

I don't think the current SP has taken into account a 5 month extension into consideration. IMHO the price is still at a level expecting CNP having to make a distressed fire asset sale at reduced prices (not administration though) ie. expecting loss of equity value but would still continue as a viable business albeit at reduced levels. IMO it seems like an announcement won't be ready to be made until very close to the 30th as appears still lots of paper work to go through... next week may be a good buying opportunity IMO.