goatpointer the offer announced 29 december, page-2

In the announcement dated 29 March 2009 (Sale of 3 million Nufarm shares by Doug Rathbone) they mentioned in the second paragraph

"Mr Rathbone sold a total of three million Nufarm shares in an off-market trade late today. He further confirmed that he will participate in the current Sumitomo Tender Offer in which Sumitomo Chemical Company aims to acquire 20% of the issued equity in Nufarm and will not participate in the proposed renounceable rights issue, scheduled to be launched in LATE APRIL."

So "late april" means after 20 April i believe.

I expect a major pull back tomorrow and who knows maybe Sumitomo and other major share holders will start buying in the market at the current dirt-cheap prices to top up before the renounceable entitlment offer takes place.