The bidder can increase the offer price at any time before the offer period closes, regardless of wither the offer is still conditional. However, if the bidder increases the offer price during the last seven days of the offer period, the offer period is extended for 14 days. Regardless of when the offer price is increased, target securityholders who have already accepted the offer are entitled to be paid the increased offer price.
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- Hancock Prospecting renege on their offer
Hancock Prospecting renege on their offer, page-20
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