Wynn Pulls Out!, page-21

Why were they talking to the board and not to JP? Surely they could gain access to him through all the business connections they would have. Were they merely fishing for information or for the market reaction to their bid? Any genuine bid goes to JP first - not second IMO.

I think it was a fishing expedition at this stage. They'll look over analyst reactions and the market reaction, and think about whether they want to say hello to JP or not. Wynn's SP is sort of in the dog box too. Is their SP going to improve or worsen relative to CWN? This TO would be worth roughly half of Wynn's MC.

It is very strange to get in a huff about confidentiality. They aren't ready to defend themselves or argue for the idea of the takeover (at this stage) maybe. Maybe this is designed to be a distraction for somebody?

Obviously the leaker could have been somebody from either side.

Doesn't really have the hallmarks of genuine interest. Have there been other takeovers that have eventuated where the suitor walked away on day two? (not a rhetorical question - I don't know the answer - hope somebody does).