If there was another interested bidder then they probably would...

If there was another interested bidder then they probably would try to accumulate shares on the market first. This is another scheme arrangement. As we all know after Min’s efforts , only need 19% or so to block a scheme arrangement. As Min also showed, it’s not hard to accumulate a decent shareholding when a scheme arrangement is in play. Just need to offer near the perceived value price and people will dump thinking they can’t get much better anyway. GLTAHs