...."Lets face it, if last years attempted farce is any...

...."Lets face it, if last years attempted farce is any indication, then Wah Nam (and associates) will keep buying until they achieve their total domination goal of 90+%!"....

completely different set of circumstances. The issue is not whether they will keep extending. At some point the sell side will simply dry up and reaching a stalemate where WNI has to settle one way or another.

Getting from 20 something % to 53 or so% was the easy bit as they were buying on market at $4 - $5, plenty of takers.

At less than $3 (even in a all cash offer), many will be facing losses. Breaking even is hardly an incentive to sell for those who bought at $2.5 knowing WNI can't get to 90% and has to reach a compromise.

You are right in that they will continue to keep buying. It is clearly much less messy for WNI to buy on market at $3 than revising the bid to $3. I don't have a problem with that so long as the price is right.