Nah not dreaming at all. I do realise that the IAF locked them in. But in a normal takeover where there is no IAF can the bidder lock in acceptances simply going unconditional to conditional? If so, that seems unfair because it gives them the right to dictate the conditions and back out if they wanted to and then as soon as they go unconditional the other party can't back out? That seems unfair. But the IAF did state that those who accepted into it (the IAF) can withdraw only before the offer becomes unconditional, so those who sent to the IAF for the "benefit" of not having to worry about missing the last minute accepted the condition that they can't back out as soon as it become unconditional. But what about those who have sent directly to OZL? Can a rival bidder still grab those?
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