Ann: EAR: Takeover Update, page-13

They may be a friendly, but not so sure. I would assume being an "Opportunity" fund, they essentially hold the balance of power to the 90% compulsory acquisition phase, and may want to negotiate a higher premium, or why would they need to "borrow" shares except for a blocking stake and leverage. Interestingly, the 19M shares they borrowed is exactly the same amount they sold on 28/11/16. Note if said premium were to eventuate, all share holders, even those that have previously accepted, would receive the new offer. An interesting development.

For transparency, I have put my position as not held, as I have accepted the offer and awaiting allocation of my EAR shares.