Ok, that was a good explanation. I guess in theory it could...

Ok, that was a good explanation. I guess in theory it could work, but not sure of how legal that would be, but in this day an age anything is possible.

Yeah, that can reject offers without shareholders even knowing. That happened with Santos that I used to hold (almost a repeat to GXY, its crap, its crap, its crap everybody kept saying while I accumulated and then boom.... oh its valueable now). There had been multiple bids, but as shareholders we didn't find out until one was acceptable and put on the table and then the truths came out.

Even if the board did accept it, as I mentioned before unless it was a great offer I don't think enough shareholders would support it. But, anything is possible and when it comes to TO's - anything is possible. Lot's of games get played.