cudeco shareholder research, page-110

So you know who's sitting behind all the nominee accounts zzedzz?
Unless you do, how can you state no-one has been accumulating?

If a low-ball bid did eventuate they'd be smart enough to wait until the ML was granted and then reveal their hand.

As Bermunda has pointed out; any party that may suddenly lob a bid better hope they weren't involved in the churn and cap disgrace over the past 15 months.

A forensic examination of trading activity would reveal all in this instance. Maybe they weren't so smart afterall..