Dingyi seem to be accelerating their buying again after a long...

Dingyi seem to be accelerating their buying again after a long period of nothing after their failed takeover back in late 2013/early 2014. With 9.53%, Dingyi are perilously close to being able to block any potential bidder, which they would need a 10% stake to do so.

Taking into account the change in exchange rate and the share dilution since Dingyi's original takeover offer, the following more or less represents the current situation.

12/04/2013 Dingyi make annoucmeent of takeover offer at 66c. It costs them 8.15HK to buy 1AUD.
25/11/2014: It only costs Dingyi 6.62HK to buy 1AUD.
This equates to a 19% saving for Dingyi.

In this same time the shares on offer have increased from 288 million to 381 million which represents a 32% dilution.

With this dilution the new price per share for an offer should be 50c (which results in a total cost of $190 million as per original takeover) but when you then take into consideration the 19% extra buying power Dingyi have due to the exchange rate, the price per share should be 60c.