Ann: LIT: Extension of Offer Period for takeover bid for LPD, page-28

2chance, I have no doubt that you are spot on here, as usual.

That wall at 1.4 was placed just after the TO was announced, that and the lack of underwriting tells me, white knight.

To date our defensive strategy has been based primarily on their unsatisfactory offer. So as long as that 1.4 wall holds (barring the occasional after market auction pip down). This will continue to die a slow death, while providing that white knight good accumulation opportunities in the process.

I can't help but think we're only starting chapter 2, of the Bacchus defence manual.