Running Commentary on the SP Movements., page-3429

Those new buyers might just run out of time .
Especially if target ..being AVZ go into a trading halt .
Share price then opens at offer ?

8.2 Indicative timetable Below is an indicative timetable for a basic scheme of arrangement, which assumes that the scheme is successful, that there is no rival bidder and there are no regulatory actions that will affect timing.
Announcement must occur immediately after signing of scheme implementation agreement ASIC usually requires at least 14 days to review Minimum 28 day notice period Court must approve despatch of scheme booklet and order the convening of scheme meeting Court approval of scheme is required Usually up to 5 business days after record date Scheme is effective upon ASIC lodgement of court orders Allow about 6 weeks to prepare the draft scheme booklet Usually up to 5 business days after effective date Day 0 Day 42

Day 57 Day 60 Day 61 Day 90 Day 92 Day 93 Day 100 Day 107 Draft scheme booklet given to ASIC for review Target announces proposed scheme ASIC completes review First court hearing Despatch of scheme booklet to target shareholders Scheme meeting of target shareholders Second court hearing Scheme effective date Scheme record date Scheme implementation date

https://www.allens.com.au/pubs/pdf/ma/takeovers-handbook.pdf