I would prefer to see a commercial response rather than legal spat.....although I can't see how Billis can effectively deal with this and the other issues that he is so personally wrapped up in. Everyone including ASIC really needs to see some independence on the board. Without this, the risk of a bad outcome is much greater
If $150M is such a great deal make a counter offer for the NST share. TBR/RND should have about $90M after they pay the tax due, so they could quite easily offer a genuine bid of $200M. That's $50M more than what BB has stated is a good price.....so if NST is the "business first" organisation BB claims, he'd be forced to justify a decision to reject a 33% premium to what he states is a good price.........................This is the stuff that needs to be the focus, NOT the Takeover Panel. An unencumbered board is required.
