http://www.theaustralian.com.au/business/opinion/corporate-watchdog-wants-broad-review-of-takeover-rules/story-e6frg9io-1226423429616
"Two takeover rules crying out for reform are the different treatment of schemes of arrangements and market bids.
If you announced a bid for BHP, you have to do so within two months or you are in breach unless the takeover is to be by way of a scheme, when it could happen in years.
** Likewise, the private equity games of "exploring" or discussing proposals demand a UK type put-up-or-shut-up rule, so the PE teams can't keep a company on hold forever."
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