I beg to differ speculator101. All DLS acceptances are now open to a higher Magnum offer. Of course, Magnum need to up the stakes to both account for the decline in their share price and to make it more enticing to some who might be reluctant to accept US script. However, after the panel decision they now have a chance to control AQO and, so, should go full bore with an offer than might entice people to change their mind about accepting the DLS offer. After all, Magnum's entire OZ shale strategy now hangs in the balance.
I think DLS have a very clear idea about what they are willing to spend on AQO, so don't expect them to outbid a revised Magnum offer.
I would be very surprised if Magnum don't release a revised bid in the next day or two, as DLS hands are effectively tied for 2 weeks even after they release their revised bid, which has to be approved first by the takeovers panel.
DLS Price at posting:
$1.58 Sentiment: Hold Disclosure: Not Held
AQO Price at posting:
34.5¢ Sentiment: Buy Disclosure: Held