OK, on the matter of extensions to takeover periods, I have gone back to basics - rather than foolishly relying on a secondary source.
Thanks to jake0002 and andyno3 for alerting me to a problem.
There is nothing more basic than the CORPORATIONS ACT 2001 - SECT 624
http://classic.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s624.html
That section states:
"Automatic extension of offer period if bidder reaches 50% or considerationincreased in last week(2) If, within the last 7 days of the offer period:
(a) for an off-market bid--the offers under the bid are varied toimprove the consideration offered; or
(b) in any case--the bidder's voting power in the target increases tomore than 50%;"
So if MIN gets more than 50% of NWE shares by the time this takeover bid closes, then it can automatically make an extension of the takeover period
Alternatively, MIN can make a better offer and thereby extend the takeover period.
Of course, if another company makes a better takeover offer then the takeover period starts all over again.
Heaven help us. I am holding tight.
