Ann: Enforcement proceedings in respect of TER's unsolicited bid, page-15

Looks like UNV's hail mary is just aimed at getting the bid up price to the amount that TER paid for the rest of the shares they already own... Basically says 'pay a little bit more, and you can have it'.

And if the court says the rule doesn't apply, then the bid terms can stay as is.

Looks like the UNV mgmt have set a pretty low bar for this to go ahead?
Between 'no change, and up a little'.

Its their job to try and get as much as they can when selling the company, so you have to expect them to try a few things on I guess.

Meh.