Financial Analysis, page-250

Takeover premium is usually between 50% and 100%.
Theoretically, for calculating takeover price:
- Share price were trading at $1.80, bid price would be over $2.70;
- Share price were trading at 80c, bid price would be over $1.2;
- Share price were trading at 40c, bid price would be over 60c;
- Share price were trading at 30c, bid price would be over 45c;
- Share price were trading at 20c, bid price would be over 30c.

If there were really interested parties, using minimal volume to push down share price, then offering a low ball bid price. That would be huge saving if they were doing so.

But, we don't know what was actually happening.
Bots were very active, and they effectively pushed ISD down to 22.5c, that's unbelievable compared with other ASX tech stocks, imo.