3% creeping acquisition limit exceeded - takeover offer tomorrow morning?, page-6

Remember the ASIC were involved not too long ago with MGX because their board was not considered independent of the major shareholders? Maybe they are technically 'legally' independent now, but considering the Chinese holders if acting as a block essentially control the entire company - I doubt our directors have much sway even if they are truly independent. I think they are an extension of APAC. It does look like a TO, but they had 18 months to take over MGX before an insurance payout and could have gotten us cheaper. Maybe like us moms and dads they just want more shares b/c they know its a good deal? Also, I think being a public company is much easier than being a private foreign company operating in Australia? And if a takeover comes, won't that director who bought be slammed for insider trading? why take that risk?