iceburg order at 30c, page-39

Serendipity,

To start with, under asic guide lines any buyer is prohibited from acquiring more than 20% of any public company without making shareholders aware of their intentions/ takeover bid. Now with foreign companies i believe their figure is more like 15%, as they must also seek approval from the regulatory body than governs foreign investment into australia.

Reddy's could potentially launch a market bid style take over where they buy stock through an Australian institution like you were suggesting. However they still must prepare a bidders statement and lodge it with Asic. It would then get passed onto ACL, who'd announce it to the market, along with a letter to share holders suggesting whether or not to accept the bid.

At the moment ACL looks like the perfect take over target for someone like Reddy's, with the value of Fonda being worth many times that of the current market cap. However as discussed over in the "take over will not go through" thread- there's no way Pete and the board would agree to any sort of take over when the SP is this low, and before the full potential of Hyact has been recognized . Therefore speculating that someone like Reddy's could be launching a take over is simply foolish.

The idea of Reddy's buying out the rights to Fonda could potential be a possibility, although most share holders won't agree with that scenario either. If you've really been following this stock and understand what's happening at the moment with the generic industry, then i guess all your doing right now is buying up big time.......

Hope everyone has a few drinks this weekend, What a crazy week all round!!

Peace.