PDN offers a takeover for 23,9 NGM-shares to switch to 1...

PDN offers a takeover for 23,9 NGM-shares to switch to 1 PDN-share.
Many shareholders a angry because the Management say, this is a good deal.
Interesting, that ASX-rules say, that PDN needs 90% of agree to get NGM.
DB is buying massive shares on market and since yesterday they have the 10% veto collected. So i think they will make PDN to make a better offer.
Its a riskless deal for PIs to get some shares at 15.5, because the value of an NGM-share is 16.2c, if PDN will make this deal in this laughing conditions.