DLS is late for the move. MHR will not give up easily, page-47

I really can't understand how the management of AQO is making an anns. after Magnum Hunter's bid increase and still making recommendations when the  chairman David Shaw and CEO Guistino Guglielmo have already sold their shares to DLS! What type of game is this! They say "Your Ambassador Directors will assess the merits of Magnum Hunter’s revised proposal and will update shareholders as appropriate"

I am not sure if they should be considered as the management of company. IMO, they have already blocked the way for the new bid increases which would be in the benefit of AQO shareholders. They might be allowed to do that legally but not ethically IMO. I said before the situation is good for NSE which I am holding, but not good for AQO shareholders.

AQO Anns.
"On 17 June 2014, Magnum Hunter Resources Corporation (Magnum Hunter) announced an increased offer consideration and declared its offer unconditional in relation to its proposed offmarket takeover bid for Ambassador. Ambassador shareholders are not required to take any action at this time.

Your Ambassador Directors will assess the merits of Magnum Hunter’s revised proposal and will update shareholders as appropriate.

Ambassador notes that under the Bid Implementation Agreement dated 28 May 2014 between Ambassador and Drillsearch Energy Limited (ASXLS) (Drillsearch), if any Ambassador director proposes to change his recommendation in relation to the Drillsearch takeover offer (as set out in the Drillsearch Bidder’s Statement dated 12 June 2014 and Supplementary Bidder’s Statement dated 16 June 2014), Drillsearch has the right within five business days to match any other proposal received by Ambassador."