Ann: SALE AND RECAPITALISATION OF TEN, page-54

Agreed the Nexus precedent is a worry.
However in that circumstance :: Mr Della Martina [ the CEO] reiterated that the board had carried out an "extensive" review of potential options for asset sales and funding but had not been able to secure an alternative proposal to Seven's offer, which has been deemed "fair and reasonable" by an independent expert.
TEN is in a separate class altogether. What alternative financing options have been examined by the directors? Is the company insolvent? Lachlan has been quoted in the Australian today that his proposal is superior in that it offered 25% equity to existing shareholders.
I cant see the major shareholders allowing this to proceed