Ann: Intention to Make Takeover Bid, page-6

A horrible low ball opportunistic bid.  Will they be prepared to offer more? (Imo yes). Will it flush out another bidder?

Thanks @madamswer.  I digested your reasoning/thoughts re this company and (after a little research) bought a few.   An element of luck in the timing of course but the company was "ripe" for the picking.

This also highlights what was implied re the risks a board/management run when they have a snooze at the wheel.  They can lose their gig!