dio recommends avoca's increased bid 1 for 2.3, page-5

It isn't all over until it's all over.

A lot can (though not necessarily will) happen between now and the bid closing.

No guarantees that Baker Steele will accept - in which case DIO can't move to 100% through compulsory acquisition.

I would have thought that if for example AVO end up with 80% of DIO and a group of shareholders is holding out, that it would cost AVO very little and be to their great advantage to improve the bid yet again. AVO have not stated this is their final offer, at which point they are not allowed to increase it.

Perhaps wishful thinking on my part, but there are still some interesting scenarios to play out. However the ball is now in the shareholders' court, not DIO's. Probably a good thing!

Good volume today - arbitragers or genuine buyers? Interesting