AVO have extended by a week and made their offer final, which...

AVO have extended by a week and made their offer final, which means it cannot be extended or increased.

Strange move really. Had they increased bid to 1:2 and made it final they probably would have won it - even though on paper the RMS offer looks better.

The pressure will now be on RMS to make their offer unconditional when they release their bidders statement (which will surely be released before the end of the week).

However I would be amazed (but that has happened before) if AVO is successful with its bid at the 1:2.3.
The opportunity is now there for other players to come in over the top with a cash or better scrip offer - La Mancha are now trading at $1.23 after a good result, Northgate have the cash to take over both La Mancha and DIO, Silver Lake are still there in the background - and they all know now that AVO isn't going to gazump them with any revised offer.

As a DIO shareholder I think AVO is trying to bully us into selling and shortchanging us on value. Smacks of arrogance rather than smart strategy. As an AVO shareholder (I hold both)I'm not too pleased at the prospect of AVO mgt having spent so much time and money just to acquire a minority holding in DIO. And they complain about DIO management! And run down RMS management at the same time!