Hi VYR, thanks for that.
On any takeover price they would have to comply with minimum bid provisions
http://download.asic.gov.au/media/4107420/rg9-published-7-december-2016.pdf
"
RG 9.147
The ‘minimum bid price rule’ in s621(3) provides that a bidder making a takeover bid must offer consideration at least equal to the maximum consideration that the bidder or an associate provided, or agreed to provide, for a bid class security under any purchase or agreement during the four months before the date of the bid (pre-bid purchase). "
Not sure what happens if they don't buy any in the 4 months proceeding any offer but assume any offer documents would be rejected by asic if it wasn't considered a genuine bid.
Thanks
Hi VYR, thanks for that. On any takeover price they would have...
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