preopen; another takeover offer?, page-6

in a holding pattern Rumours of a second bidder, took the price back to $7.20.

Lodgement of a bid by another bidder would see the hedge funds swoop again, to take the price to the $7.60 to $7.80 range probably within 30 minutes of trade.

However, a second bidder is still likely to wait for the ACCC's next statement in Dec.

TOL might not have been the only party to have built up a pre-bid stake.

Time will tell. This game will play into 2006.