drop-dead date

The way i read it, is under the Supplementary Bidders statement the directors of PES and the two big s/h have agreed to accept the AOE offer "within 7 days of lodgement of the First Supplement with ASIC ( subject to there being no superior proposal)".

So the holders have to accept the AOE offer within 7 days.
The Supp statement was lodged with ASIC today, so they have to accept the Offer before 20 Feb - next Friday.

Presumably they will not accept until last minute in case there is a superior proposal. If there is, then they do not have to accept the AOE offer.

Therefore BG (or anyone else) needs to get their new offers in at least by next Friday (20th) or they miss out on the directors parcels.

One would think that any counter-offer will come quickly.

cheers