Ann: First Supplementary Target's Statement to Iberdrola Offer, page-2

TLDR: we get 30% more of the shares and this business is going off the ASX....

Still question how the balance of holders will act... would be too early to say that UAC will sell their shares into the offer before making a counter bid... will need to be higher than current offer - if they sell into offer... that is 43% + directors and associated holders... it could be close already