Here is the link to the entire saga of events as recorded at FTI consulting. Interesting details start in section 6 on page 8. Up front 'everyone' that had ever expressed interest in the ROF assets was contacted for interest in bidding. 18 companies expressed interest, 7 companies were engaged in negotiations, 6 signed confidentiality agreements and two bid. NOT's offer ($20million) was deemed superior and recommended, announced, etc.

Subsequently on Apr 13 FTI was approached with another unsolicited offer (we now know it was Zaiback, Boor and two unnamed FN) and a second round of bidding was conducted with the two. On the 16th NOT's bid (no amount stated) was deemed superior and recommended. A vesting motion is suppose to be heard tomorrow with closing on the 28th.

On the 16th KWG made an offer to acquire the KWG shares held in the deal and were turned down. Their argument that FTI couldn't sell the shares because of early warning requirements was rejected as non factual. The obligation to provide notice is the responsibility of the buyer (NOT) once ownership changes. KWG subsequently, by email, offered a NSR to secure the shares and was rejected.

On the 17th a share purchase agreement with the purchaser NOT was conducted and a vesting motion was applied for to be heard on the 24th. The deal closes on the 27th (I also saw the 28th mentioned) contingent with the concurrent sugning of the financing document between NOT and Franco Nevada.

No mention of other competing FN bids.

... Been There

http://cfcanada.fticonsulting.com/bloomlake/docs/Amended%20Motion%20for%20Chromite%20Shares.pdf