So now there are two registered bidders at the auction for RDH....

So now there are two registered bidders at the auction for RDH.

Both bidders are using scrip, so the competitiveness of each bid is contingent on the performance of the respective share prices of the bidding parties.

In poker-parlance, I think UCW is "pot-committed" and the UCW board will feel obliged to re-raise following the ICT bid...that is, should the ICT share price remain at current levels, which is by no means guaranteed give the following curious picture:  

.


(If the ICT share prices goes back even some of the way from whence it has come, then it could be the ICT board which has to re-raise its own opening bid.)

.