This is not a hostile T/o of NDO, you don't sit down and...

This is not a hostile T/o of NDO, you don't sit down and negotiate T/o's over some period of time.
A hostile T/o sees an offer made to a company for their shares in whatever format (cash, cash and scrip, etc).  The target co must make this information available to the mkt as soon as it's received.

The only other type of T/o it could be is one that is commonly referred to as a "scheme of arrangement", and technically they are not T/o's but reorganisations (Corporate transaction??).

An excerpt from a practical guide.
Technically speaking, a scheme of arrangement is not a takeover at all, but a shareholder (and court) sanctioned reorganisation of a company’s share structure (you can also have creditors' schemes of arrangement which reorganise a company's debt structure, but that’s another topic). This difference in structure throws up quite a few important practical differences.

One difference is that a scheme of arrangement is always ‘friendly’. That is, the bidder and the directors of the target company will have been in talks before the announcement to agree the price and terms. Also, schemes only require 75% of votes cast to be approved, which is a lower threshold than under a takeover, where 90% acceptance is required. Invariably, private equity firms prefer schemes of arrangement because they’re less messy and, if successful, they result in them owning 100% of the target company.

Since PB mentioned "possibility of some exciting news" a long time ago (before the AGM), I'm not convinced that a scheme of arrangement is going to be the result, as if I was him, I don't know that I'd be referring to something like that as "exciting news".  It certainly wouldn't be for a lot of s/h's who've held long term.