I see your point of view. A possible (but by no means...

I see your point of view. A possible (but by no means guaranteed) reason for the delay could be a realisation by the bidders of the changed market conditions and need to renegotiate terms/final price with ORG.

If i'm not mistaken, a previous announcement stated that the bid price would need to be adjusted to account for any dividends paid (such as today's 16.5 cent div announcement).

I'm yet to come across any material that suggests current regulatory issues with ACCC or FIRB and (alternatively) yet to see whether there is any possible alternate suitor who might jump into the mix in this non exclusive phase.

A Google search is useful in bringing up info about previous failed bids for ORG in the past - ranging from board refusals to ACCC/FIRB regulatory issues at the time. Those times were of course different with their own market conditions and circumstances. Time will tell ...

If the bid is likely to fail, the question becomes whether the current share price level has factored this in already or not. We haven't seen ORG trading around the $9 bid price since the announcement was made in November...so I do question whether the "market" sees this deal as having strong prospects of going through at all (or going through @ $9 as opposed to a lesser amount). Time will tell. Good luck to all holders