No need to wait Jbahs - they could have said no thanks to the...

No need to wait Jbahs - they could have said no thanks to the offer with no premium.

Then if it went ahead they could sell into it. Nothing to stop them doing that. If not then the asset is still on their books, in profit.

As for the logic provided by Rifici above - if that were to transpire then i think that they may have a problem with regulators taking a look at their arrangement.