EL,
Don't know the rules about them being able to directly buy on market when it's an off-market takeover bid but would imagine that it wouldn't be difficult to make an 'arrangement'.
Trans Atlantic could definitely buy on-market - depends how committed they are which is questionable.
I thought OEL might be an interested party that might want to block the COE bid to protect their Turkey JV with IPM.
IPM
incremental petroleum limited
interseting buying today, page-8
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