That is poor advice, at least immediately. If you sell on market you cannot benefit from revised offers from either DLS or Magnum. Also, if Magnum raise their offer, they will immediately mop up all 'sells' in the sell queue.
Given the lengths to which Magnum have gone to stay in the race for AQO, I'd be expecting a revised offer in the coming days, at least to match the previous level of 38 cents, and perhaps 100% cash. They might even increase their offer slightly. They have a small window to win back that chunk of stock that DLS must now, effectively, put back on market.
As for those claiming DLS did nothing wrong, read the ruling, for god's sake. The Takeover Panel has ruled that both DLS and AQO directors contravened sections of the Corporations Act. As such, there may even be follow up legal issues, especially with regards to ongoing directorships.
DLS Price at posting:
$1.58 Sentiment: Hold Disclosure: Not Held
AQO Price at posting:
34.5¢ Sentiment: Buy Disclosure: Held