An article in 'The Australian' also by Andrew Burrel contains...

An article in 'The Australian' also by Andrew Burrel contains this link that lays out the chronology quite clearly.
http://resources.news.com.au/files/2013/07/10/1226677/344613-130711-takeover.pdf

Facets of a takeover
Jan 31, 2013: Merlin Diamonds
announces takeover by Singapore based
InnoPac Holdings. Merlin
shareholders are offered 28c per
share.
Feb 5: Gutnick tells Singapore Stock
Exchange he bought 200 million
shares in InnoPac for 20c each.
Doesn’t submit form to say whether
shares were bought on market. But
total traded volume in InnoPac
shares on that day was only 89.5
million.
Feb 6: Gutnick tells SGX he bought
another 100 million shares in
InnoPac for 20c each. Doesn’t
submit form to say whether shares
were bought on market. But total
traded volume in InnoPac shares on
that day was only 72.9 million.
Feb 18: Gutnick buys another
220,000 shares in InnoPac for 20c
each ($S43,780) and discloses that it
was “via market transaction” .
Feb 21: Gutnick buys another
1 million shares in InnoPac for 20.5c
each ( $S205,000) and discloses it
was “via market transaction”.
March 7: Writing in Merlin’s halfyear
financial report, chairman
Gutnick tells shareholders the
InnoPac transaction is
“unanimously recommended by the
directors of Merlin”. He does not
reveal that he had already become
the biggest shareholder in InnoPac.
March 20: Gutnick’s Legend sells
22 million Merlin shares for $4.8m
at 22c each – below InnoPac’s offer
price of 28c.
March 26: Gutnick sells 37 million
Merlin shares for $7.9m at 21.3c
each – below InnoPac’s offer price of
28c. Gutnick is left with a stake in
Merlin of less than 1 per cent.
March 28: InnoPac lodges formal
takeover offer for Merlin.
April 2: Bidders document says
InnoPac’s offer for Merlin is
“unanimously recommended by
Merlin’s directors”.
April 11: Target statement issued by
InnoPac says Gutnick has a
“potential conflict of interest” as an
InnoPac shareholder.
April 30: Gutnick says in Merlin’s
quarterly report to the ASX that “all
the Merlin Diamonds directors
unanimously recommended that
Merlin shareholders should accept
the offer”. Gutnick does not
mention potential conflict of
interest.
June 28: InnoPac extended
takeover offer until Friday, July 12.