thing is, that regardless of any other factors....

whether Delia does or doesn't want to sell etc, Cullum is the driving force behind the deal as he'd provide the cash obviously.
When someone buys a company, the offer is either invited or not. If not, then the buyer has to take the initiative.
If it is invited, then they'd still have to hammer out an agreement.

In this case, it seems that there's a disagreement over the price and/or conditions. We don't know who's causing the obstacle, but we DO know that if Cullum wanted the deal to go ahead, he could force it through.

I should point out that I edit an online resource dedicated specifically to M&A activity, so I see this type of impasse all the time. Usually the buyer gives in and makes a firm offer or raises the offer they've already made

Posted By: Worzel Scrimmage, Aug 18, 23:28:17