latest zfx response announcement, page-29

Its actually exactly the opposite.

ZFX will wait as long as possible. The idea behind is this, is to make people think that they won't increase the offer and hence start getting some acceptances from the inexperienced.

Also important to note, that ZFX are inexperienced in takeovers themselves. Which bright spark came up with the dual 0.90/1.00 bid?

They aren't going to outbid themselves before the due date.

However, after that I'd expect them to either increase to 1.15 to 1.25 or extend the current offer as a scare tactic & then increase. Just be mindful that ZFX (& some of its desperate holders) will basically tell you anything in order to get your shares. All sorts of tactics will be used over the next month. Plenty more in store. The first bid is very rarely the last...