I don't think anything was summarily rejected except for the Kings offer to Bonzi.
Contract negotations may be fluid for a while, but then - just like everything else - decisions have to be made. Petrie and Phillips reached a point, I think, where future discussions were pointless because they were not going to see eye-to-eye on Bonzi's sticker price.
Petrie moved on. Phillips fully intended to find the greener pastures. It was most likely a big shock to him to find out there were NO other takers at the price his client wanted and expected to get.
Bonzi could have accepted the offer Petrie made. If he had, especially considering how much talk he had done about wanting to remain a King, etc. then we wouldn't be having this discussion.
I don't get insider info. about inner workings of contract stuff. In fact, I don't think anyone knows the inner workings of Petrie's negotiations until and unless he decides to reveal them. And we all know what a jabbermouth Petrie is.
There were indications in a couple of different places that there were provisions in the contract Bonzi objected to. I don't recall right now, but I think William Phillips may even have mentioned that as a reason Bonzi didn't agree to the deal. My gut instinct tells me that perhaps there is more here than we will ever know. Not all dirty linen gets aired...
What I do know is that the USS Bonzi King sailed. It hit a reef and sank with the loss of all hands. There are NO plans to attempt to salvage it.