Ann: Scheme Further Supplementary Disclosure, page-21

I am a confused once again.

Casa states that the $1.10 is their best and final offer.

Except if someone throws in a higher bid they reserve their right to match it. So is it their best and final offer or not?

Any higher bid would presumably need to be unconditional without ability to do due diligence. This is a high hurdle to begin with and then Casa can simply match it. This is contrary to providing an efficient market.

Does it not risk contravening Regulatory Guide 25, Takeovers: false and misleading statements issued by ASIC.

Interpretation commentary -> https://www.herbertsmithfreehills.com/latest-thinking/how-final-is-a-%E2%80%98best-and-final%E2%80%99-takeover-offer