My guess is Take-over. To have forced acquisition of all shares...

My guess is Take-over. To have forced acquisition of all shares they need to gain 90% of issued share from total issues from acceptance of offer. As there is no indication of really big chunk being taken up or revealed to ASX then offer would have to be well above current price.

Other possibility they may just settle for a controlling interest. I think more likely full take-over attempt to become subsidiary or absorbed by another company. WGX would be a good guess, but no announcements there. Maybe it is too small a deal for them to announce any offer until terms of offer agreed?