I think if Gina wanted to maintain a 5% holding, that would...

I think if Gina wanted to maintain a 5% holding, that would easily be done on market. She did on market as well as off market in ARU share purchase last time around.

@Sharesdude I feel that was squashed once the government gave a loan. i.e. they would have claws all over the loan to not allow takeover. Otherwise, their loan would seem quite dodgy, and to benefit an individual rather than an ASX listed. A takeover is the furthest thing from my mind given the government loan. But as per Stu above, you cannot count anyone out, for any action - albeit difficult.