The Indophil Directors note that the takeover process is taking longer than originally anticipated, largely due to the extended process required by Zijin in obtaining the necessary approvals from Chinese Regulatory Authorities.
Could we assume from this statement that they don't see the low acceptance level as an issue? That the hedge funds, who we are assuming are the ones accumulating, have indicated to them that they will accept the offer as soon as most conditions are met?
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