##""Well under the scheme of arrangement, if any offer comes forward before the voting day, CMMC have first option on meeting, or bettering the offer.""##
Correct, and it would most probably start a Dutch auction (Price war) which no companies wants to be involved in.
Besides, by CMMC saying that they could be bettering the offer is someone was coming out from the left wing/filed, they know full well that they are getting a very cheap bargain under the present offer.
And, under any SoA's offer, the Board recommending the offer to it's shareholders, are refrained from promoting anything else, but the Bidding company.
