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I would have thought a decision to reject a proposal was an easier exercise and therefore more likely to be prompt/quicker, whereas to firm up an actual offer underpinned by appropriate due diligence would be much more complicated/take an extended timeframe.
So is this worth a gamble at current pricing ($1.18/lower) given the upside would seem significant? And where will the market price go if negotiations are signalled to be discontinued, which is the downside risk?
Anybody feeling brave?
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