You'd have to ask AF directly. I'm not a mind-reader. I will say this, however: when you lob a takeover bid in Australia you are bound by associated rules contained within the Corporations Act, as overseen by ASIC. You cannot simply reduce or yank the bid (without ASIC first granting you relief) because of adverse news flow that occurred after you announced said bid.
You don't need to be a fool to still get pinged by bad timing or bad luck. Ask AF about his initial foray into POS right at the top of the market in May, 2007. Just goes to show that he's only human too.
