DYOR:
I think that a new bidder can still acquire a significant stake in AGO quite easily, they would approach a number of existing large holders (holding up to 5%). See how FMG acquired their 15% stake below.
Based on substantial and ceasing notices on ASX I have determined the following.
How FMG acquired 15% stake (1,391,941,947 ) in AGO on 7 June 2018:
Total AGO shares 1,325,876,044 sold by L1 Capital and Macquarie Bank on 7 June 2018
L1 Capital sold 821,276,814 AGO shares on 7 June 2018
Macquarie Bank sold 409,343,763 AGO shares on 7 June 2018
Macquarie Bank sold 95,255,467 AGO shares on 7 June 2018
It's a waiting game, page-342
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