I've been through two Scheme of Arrangements recently. There can...

I've been through two Scheme of Arrangements recently. There can definitely be other bidders, its just that NTC can't going shopping the company around i.e. it must be an unsolicited bid. If they get an unsolicited bid, Board will assess if in best interest of shareholders to entertain the bid, i.e. open up book and enter discussions with new bidder with hope of getting firm bid. They inform Casa and they will have an opportunity to come back with alternate offer.

Very similar thing happened with SRX. Scheme of Arrangement put in place after a very open process where they opened up their books to bidders. An American company came through with a Scheme of Arrangement offer which was accepted by Board. Then one before vote (around 2 months later) a Chinese company offered another 20%. Board had to inform US company and go into long negotiations with Chinese company. Eventually Board was happy with Chinese bid and recommend. US company was not prepared to pay more, so eventually new Scheme of arrangement was voted positively by shareholders 2 months after that. Long process, but was worth it.

Just a reminder this bid by Casa was unsolicited and no other company has had access to the books like Casa has had to date to enable another offer.