Ann: Revised Nyrstar Proposal , page-25

They are not obliged to make a full takeover. they are able to acquire 3% every 6 months without having to launch a full scale bid.

I ask the question and would appreciate anyone who can answer, why would Toho make a bid for all the shares in CBH when they have no need to. They can block anyone else trying to buy CBH in the position they're in now, so why make a bid? Even if the directors recommend a Nyrstar bid, how's it ever going to get over the line??