Ann: Becoming a substantial holder - Kirin, page-3

You've obviously owned for a while, so the maximum tax rate is 22.5% of the capital gain, so not really a huge chunk on a Disallowed.
The Franked dividend compnent is equally a better outcome (free kick) because you get the benifit of 30% Franking credit (which the bidder can't).
And before someone asks, yes your potential 45% Tax Rate on the dividend income is higher than the franking, but lower than the net affect if they paid that unfranked amount as part of the Capital payout.