It cant be Forrest who bought up big yesterday, (to my understanding) if it was him he was required by law to notify the market by 9:30 this morning.
The rules are in the document below, under the section "Timing of giving notice"
"RG 5.308 When there is a takeover bid for a listed entity, if the substantial holding requirement is triggered during the bid period, notices must be given by 9.30 am on the next business day: s654B and 671B(6)(b). This applies to all substantial holders, not just bidders." https://asic.gov.au/media/5770142/rg5-published-27-august-2020.pdf
A substantial holding notification is required for every change of 1% starting at 5%, and he is already above that.
So its likely someone below that 5% threshold, or multiple buyers working through the same broker, possibly with some arrangement to pass them on to JBS, it seems to be what happens in practice, not sure how it fits with the rules.
HUO Price at posting:
$3.89 Sentiment: None Disclosure: Not Held
