Ann: Trading Halt, page-43

It may be a bid, or likely a Scheme of Arrangement, as the wording in the announcement clearly states it is a Control Transaction.

The Australian Government operates an entity named the Takeovers Panel: http://www.takeovers.gov.au/  From the menu, click "Panel and Process" then click "Glossary."  Find "control transaction" from the list. Here it will state: Control Transaction: A bid, scheme or other transaction under which a person (the 'bidder') obtains control over a company (the 'target').   Clicking on the word scheme will link to this statement: "A court supervised arrangement between a company and its shareholders, which is an exception to the takeover prohibition and an alternative to a bid."

From Minter Ellison Services website, https://www.minterellison.com/articles/how-a-scheme-of-arrangement-works   The key phases and steps in a scheme of arrangement are shown below: