re: Ann: Ceasing to be a substantial holder f... Yep, it's a...

re: Ann: Ceasing to be a substantial holder f... Yep, it's a gonnner now.

thats probably why the Board of ACN requested a delay in their despatch of the Target Statement - because they were waiting for Senex to decide whether Senex would accept the DLS bid, or not.

So now DLS has around 193m shares or 41%, plus the SXY parcel of 40m or about 8.5%.
So DLS now has at least 49.5%, plus whatever it purchased yesterday or so.

So now DLS will assuredly reach the 50% level - full control.

I think there are two outcomes in s/term now for ACN s/h.

1. a recommendation of the ACN Board that s/h accept the DLS t/o and sell, and that the directors will do the same, OR

2. that those s/h who want to cash out in s/term should do so, as no other offer likely to materialise, but that the directors will hang on as they feel the DLS offer undervalues the company.

In circumstance (2) is important, because from memory the ACN directors and mgt have over 7%, and if a few ACN s/h follow suit, then DLS will not get to the magical 90%.

But imho, I think now that DLS will go over 50% easily, then the ACN directors will recommend acceptance, and sell their own s/h into the bid.

Good luck.