OK, now it gets interesting because LB have declared their 40c...

OK, now it gets interesting because LB have declared their 40c offer final and unconditional. In reserving the right to increase this in the event of a higher offer it demonstrates they probably have the ability and inclination to increase their offer. However, if there is no other offer they may well get locked into a minority holding and it puzzles me why they would let this happen.

Would they be happy with say 30% and Board representation? Don't think so.

This is unfolding like a real good game of chess and I suspect we are still in the opening move phase. The next move might well be a second bidder. Fingers crossed.