News: AIO Nitro Corp says it extended offer period under takeover bid for Asciano, page-4

Since BF have extended the closing date for acceptance twice now, I believe, I am drawn to the conclusion that they are no getting very many acceptances and that AIO shareholders are generally doing what the independent expert recommended. It might also do some considerable reputational damage or market embarrassment to close and announce a dismal level of acceptances.
In any event, IMHO, I would be waiting to see both BF's and QUB's cards on the table---not to mention the ACCC's words of wisdom. Cheers.