I think this is going to be a bit different to the Irongate situation.
As it is not TGP that owns the offices acquired but it's subsidiary TOT (effectively trading Irongate shares for a small piece of it's offices).
Though I agree that TGP will make a move at some stage, rather than just sit passively with a 13% holding (or whatever it was recently increased to).
HPI would be a good fit for CLW, but if that was their plan, I'm sure they would have rather gotten in before 360 to kick off the corporate action.
On the downside for 360's management, is they are not normally successful at getting board seats when attempting this kind of maneuver (refer Irongate, Evans EP1, or others....)
I think this is going to be a bit different to the Irongate...
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