Surely it runs afoul of the corporations act to bid for control...

Surely it runs afoul of the corporations act to bid for control with the intention of using that control to manipulate the share price and make a lower bid.
I sent an email to the takeovers panel asking them and will let you know any reply.
I note Investec now have 13% and will fight any bullshit offer from Crescent, I hope shareholders on this forum will too?
Crescent typically buys portions of companies and leaves them listed. I think a buyback is more likely myself.
All Crescent said in the raising offer document was that they are coming to the end of the restructure period and looking foward to focussing on organic growth and re-investing in the core business.
Does that mean divesting PPI/Caminosca and buying back shares? That's my best speculation but I don't know.