It will all come down to intent and whether the parties have...

It will all come down to intent and whether the parties have breached any conditions for the other party to retract. A better offer will not come into play. Approval of shareholders is all about governance and shareholders being informed about material matters. The NSt offer would be material, but the obligation now for TAM would be to also advise SH's of any downside if MLX legal action is launched and they are successful. This could get very messy. Lawyers may win, but don't think for one moment costs on either party will be part of the claim. So its riky for both MLX and TAM, but in meantime will adjourn any deal with NST. You would hope that both parties MLX and TAM work this out somehow, but it now depends upon how hostile MLX is now after what has happened.