RG’s $0.84 bid for PACT appears like it will be unsuccessful...

RG’s $0.84 bid for PACT appears like it will be unsuccessful from a takeover point of view

However RG has managed to buy about another 37% of shares at bargain basement price which he wouldn’t have been able to do otherwise so from this perspective it’s been a great success. Maybe this was his primary intention all along

I think RG will just leave the $0.84 bid run until it must expire in September and try and acquire as many shares at $0.84 as he can

After the compulsory 6 month wait following expiry of the offer I wonder what he will do?

If RG makes a new takeover offer the bid price he will have to negotiate with the larger holders will likely be huge if he has any hope of them accepting. I don’t think RG has much of a history of making generous offers

I’m wondering if there is any alternate way that RG can take over PACT without making a generous takeover bid? If RG just buys shares at market price under the 3% per 6 month creep rule can he achieve compulsory acquisition of PACT in this way?