More specifically, I think the investment banking firm they hired to help with the jv was likely the firm who brought the MTSL deal to Gerald in the first place. They obviously shopped ESS around and this was the best or the only deal they could come up with. Then after the offer was submitted, they advised Gerald to make it public with the press release. It didn't have to be pretty, only on the record. That allowed the bankers now to shop it around again and hopefully create some competition. I think hopefully this is what happened.

Its only been a few days, so if there is another party, they must have already done their due diligence and maybe even had submitted an offer before which they have since revised. The one clue in all of this is the fact there was a pr when there didn't need to be and how poorly it was written.