What a stuff up and time waster for management. Also sounds like...

What a stuff up and time waster for management. Also sounds like this situation is a first for ASIC as they have had to draft a new provision to deal with it.

Almost sounds like someone has gone to a lot of effort to clear the path for a superior competing bid otherwise why bother. If it is the case, then it will have to come quickly and, possibly within days to give share holders time to consider withdrawal. Maybe nothing, but will be interesting to see the buying activity tomorrow.