ASX Today, page-43202

Apologies @chaddy36, @anatol and others, my answer was incorrect. I should not have referenced "to purchase 75% more by a scheme of arrangement" in my answer to you, I should have said "an attempt to make an on market or off market take offer to all holders which if it fails leaves the buyer with insufficient shares to get control." To be clear there is no such thing as a partial take over offer, just a failed on market or off market (hostile or friendly) full take over offer which can leave the buyer with the number of shares that they pay for and which they have agreed to but which are still insuffiecnt to gain control. Such offers are rare because they give no certainty to the buyer and can be very expensive, particularly in this case where Tim Goyder and friends control many shares. I also wanted to point out that LG could also start buying in this case with LTR's permission to ensure the buyer failed. If you want more info on this see: https://www.minterellison.com/articles/summary-of-australian-takeover-laws#:~:text=The%2020%25%20rule%20provides%20that,through%20one%20of%20the%20exceptions.