3% creeping acquisition limit exceeded - takeover offer tomorrow morning?, page-8

Can someone please confirm the following logic as I've never encountered this 3% rule before.

If their intention is to takeover MGX, once they buy more than 3% of the company in 6 months they must propose a takeover?

Therefore, if they are trying to accumulate while the price is low, they would hold off buying any more shares for 6 months. This is because an offer will cause the market to pump up the SP.

If they don't mind the SP going up this won't matter, but if they are trying to take the company private for as cheap as possible they might wait.

Although who knows what will happen to the SP in 6 months anyway.