Doing a raising makes little sense unless they manage to get...

Doing a raising makes little sense unless they manage to get hold of the majority of shares issued.

They won't need any cash for acquisition as they will be using scrip to make sure they give themselves as big a holding as possible. Though thanks to Vons questioning of my dilution fears I have learnt they cannot just give themselves as big a holding as they like ....

"In light of the inherent conflict with the fundamental principles of Chapter 6, ASIC and the Panel will carefully consider any reverse takeovers which threaten control of the bidder passing without its securityholders having the opportunity to participate in any decision, and orders may be made for such bids to require approval of the bidder’s securityholders."