Ann: ASIC Relief for Electronic Delivery of Target's Statement, page-3

The market is betting on something happening tomorrow.
Remember the company has to officially reply with their advice to RDH shareholders by tomorrow 13 January

By pricing it at a premium the market is betting the independent valuation will show the true fair value is 1.5+ AUD and UCW will have to amend their swap ratio if they want to have any chance of making this deal successful. In another wild card scenario, other bidders for RDH could emerge although they would not have had a lot of time.

Anyways, the stock has been ticking higher on very limited volume so might all not mean very much