More Media Takeover Speculation, page-86

Yes, you are correct, but this is what nominees and bankers often do if they have a preexisting relationship and an inside running. Tattarang will have to formally report the moment it (or any entity it has control of, or a related person) breaches the 20% cap - and they are running right to the wire per the last sub notice update. But still, I suspect all manner of entities or people that are not caught by this rule would be quite happy to acquire ASB shares on their own account for Twiggy (or any other major shareholder or bidder looking to swoop) in a manner that does not in any way breach the disclosure rules. Then when the go button is just about to be pushed a whole lot of cross trades suddenly occur, and the stakes are all transferred over at their historical acquisition cost (rather than the market price which, by that moment, will be well off and running).

a.k.a. The Sneak Attack.