are you just disagreeing for the sake of disagreeing or are you failing to follow the flow of logic?
1) nobody bids 40+1 unless you beleive there is a clause that releases him @ 40m
2) clearly there was no such clause
3) therefore we clearly did not do our homework
4) it's not a question of refusing to sell, it's a question of not being obligated to sell. In which case the +1 makes us look very stupid
5) It is clear A schoolboy error was committed somewhere