ASX Today, page-243

I don't think there will be a crap offer because TG alone holds close to 20% of LTR's stock and when you take into account the rest of the family holdings I personally think that the only offers we would receive would be friendly offers. In other words, a crap offer would have no chance of getting up because for any offer, to be successful would require the Goyder clan to agree to it. It would be almost impossible to achieve a takeover with a blocking stake of what 30%? That is just the dynamics of takeovers. If LTR is to be taken over it will be a friendly takeover that has been discussed and negotiated with Tim well and truly before any word of it has been mentioned to us. So don't hold your breath waiting for a hostile takeover, it would be doomed before it started.