To throw a little guess-work out there, imo there's a...

To throw a little guess-work out there, imo there's a possibility that for the t/o to succeed, the target company is quite likely to be insisting on having a certain representation on the BoD.
This would also be supported by ASIC due to the fact that two board members have left in the past 12 months and neither has been replaced despite them saying last year (for that first departure) that they would be interviewing appropriate candidates.

So now, to attempt a t/o, imo there's no chance of ASIC allowing it until they're presented with a new board structure that would be appropriate to having an additional business in the house.

If you remember back to the 2018 debacle of relisting and the seemingly endless new-prospectus' - one of the conditions revolved around having enough independent directors on the BoD.
They're under par on that score as it stands at the moment and I can see them being pushed into corner with no choice but to have existing members/member of the target's board join the management here, whether Sholom thinks they'll fit in or not.
So (again,imo) if there were to be any personality and/or operational clash differences, I very much doubt this attempted t/o will have any chance of going ahead.