I also recall at the time that the Chinese, CFC said that if DML didn't accept the offer that they would go broke..... And guess what.... They did.
So my guess is that the management did not want them to conduct DD as they were fearful of what they may have found. They were probabl hoping to trade their way out of it.
DML Price at posting:
1.9¢ Sentiment: None Disclosure: Held