uio,v good post.a few questions.quote :"The extension is an...

uio,

v good post.

a few questions.
quote :"The extension is an indication that ZFX want AGM more than they actually led us to believe."
With lion accepting the offer would this not allow zfx to adjust their bid ie extend the bid on belief that with lion( as an institutional) selling this would impact on acceptances. That is "Lion SELLING " materialy affected the bid and thus allow ZFX to adjust the bid?
Does anyone know when lion sold ie 6.30pm? Could not zfx use this as defence to justify adjusting their bid after 7.00pm( How does this technical breach affect bids normally). Also with AGM announcing that other parties are perusing the data room would they not have to disclose who they are and any discussions involved to takeover panel?

Quote "If ZFX truly intended to walk away then given the incredibly low acceptances to their offer they would not bother to extend unless they stand ready to trump any rival offers to close the deal." How hard would it be to prove this without some tangible evidence of rival offers not just speculation from AGM?

Lastly a bit of speculation : lion sold believing that there would be negative sentiment about trading of drilling/exploration money but doing it at the last minute gave them leverage to complain to takeovers panel "knowing" themselves zfx would extend the bid thus allowing themselves hedging. ie if sentiment bad stock turns south mass selling therefore no loss but otherwise complain and get your stock back no loss seems a win win postion for theses guys. This takeover has become very weird very quickly!