Ann: Pure Recommends BG Group Takeover Offer , page-11

re: Ann: PES: Pure Recommends BG Group Takeov... are you guys saying that Arrow is out of the race?
I don't think so - yet.
all that has happened is that the directors of PES have recommended the highest offer.
they have stated that they will accpet the BG offer within days of this announcement - UNLESS a higher offer comes along.
The PES directors HAD to do something - because they had already said that they would accept the latest AOE offer within 7 days of that offer being made.
So all they have done is start the clock ticking again!

It is going to give the Arrow / Shell a kick along.

If Arrow come back again with a sweetened higher offer, then no doubt the PES directors will recommend that offer (again subject to no superior offer being received).

The game is still on !

cheers