I'm that far from being a lawyer, it ian't funny. Nor do I know...

I'm that far from being a lawyer, it ian't funny. Nor do I know all the details of ASX disclosures, so I'm asking:

TGR said, 'This indicative proposal follows previous indicative non-binding confidential proposals received from
Cooke for $4.67 and $4.80 per Tassal share". I think the word out of that statement of importance is 'confidential'.

How is this confidentiality applied? Do Cooke ask, 'we'd like to make an offer but only if you keep it confidential', or 'our offer is to be treated confidentially'?

If it's the first, the board says ok and accepts the offer in confidence, and rejects it. Fine. But the second way, well the board surely would not have to treat the offer in confidence.

Then Cooke makes a second offer, and surely the TGR board would not accept an offer, which they know should be similar to the first in 'confidence'. My point is at this stage shouldn't the offer, being market sensitive, be notified to the ASX and the market?

I never saw any such notifications. By being quiet on the whole issue, the SP stayed low, and allowed Cooke to buy more on market cheaply. So why weren't the ASX and shareholders notified?

The only way, I see this could happen is if all this dealing was conducted in a day or two. I'm not a fan of 'scheme of arrangements' but they usually succeed. I hope not in this case.