I wonder what is really going on here. Here are a few of my thoughts.
1) We know that David Stuart was trying to sell out a while back (some of his position at least) to fund buying into the other companies he is directing. (I thought that this may be part of the reason for the price decline over the last 2 years). I'm not sure if he has sold enough shares yet as he is still a substantial holder and I am wondering if he partly driving this sale. If it is him, then it is much harder for us to push a No vote.
2) At the last results presentation NTC management indicated that they believe that the market is not properly valuing the share price, and that they thought that it was worth a lot more (Were they thinking it was worth $1.10? because now they are recommending the sale).
3) With 1 strike under their belt (and by a substantial margin - note that David Stuart abstained his vote) I hope that they are not salty and are trying to take a quick sale (and a payout / payrise with the new co) in order to save face from a public company spill. I fear that they may be acting in their own self interest here.
4) With the context of the above it seems strange that Ken Sheridan stepped down at this exact time citing family health reasons. If it is legit, then I hope his family is OK.
5) I wonder if the companies bidding and / or doing their due diligence have the same access to information that we do. They would need input on forecast volumes for the AT&T contract etc to properly value NTC, so do they have access to this and we do not?
6) I'll be holding on for a better offer or an attempted No Vote.