"If CAJ ever get around to sending out a bidders statement to...

"If CAJ ever get around to sending out a bidders statement to IDX shareholders I would expect massive resistance from the board, so unless they are busy talking around the other big shareholders, I wouldn’t expect the bid to go anywhere."

The way I read the guidelines from the takeovers panel, once we released the bidders statement to IDX (22/12/17) we had 28 days from that date to send out the statement to shareholders so today should be the day. As you highlighted a while ago tamz, the defeating conditions included in our bid would to make it tough to get a deal done. Other than the funds that have come on board there doesn't seem to be any support for a takeover.

There was an article on IDX in The Australian this morning. No link unfortunately, it's behind a paywall.

"Integral Diagnostics will report that annual net profit is expected to increase 20% on the previous corresponding period, witch offers fuel tho the argument from some shareholders that CAJ's offer should be rejected. CAJ's offer is largely scrip, with only $50 million of cash on the table.
One point of contention is that after it launched the bid, CAJ outlaid $30 million on other acquisitions. Some irate IDX shareholders say this could have been put towards boosting the cash component of the offer.
Capitol released its bidder's statement on December 22 and has shown no intention of lifting its offer."