The legislation is not definitive about this; but generally industry practitioners refer to a 4-month "look-back" period from the lapse of the initial offer.
The Takeovers Panel can declare unacceptable circumstances if, after a bidder has made a statement that they will not increase their “best and final” bid, that bidder (or an associate) then makes another bid within four months after the bid closes.
In almost 30 years of investing I've never come across a situation where a bidder fails, and then comes back for another bite within a short period of time of, say, 12 months.
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TRS Price at posting:
$2.75 Sentiment: None Disclosure: Not Held
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