Ann: Variation of Takeover Bid, page-39

What will happen next?
Best prediction of future behaviour is past behaviour.
-I feel most likely that Nord will keep on extending.
-Potentially they might also go to the Takeover Panel and find something to complain, especially if the Ghana bid don't follow through with any required procedural next steps (does the Ghana bid need to send anything to shareholders for example?).
-Or they might bid 1.05.
-After they extend for a couple of months, then make a higher bid.