So while perhaps unlikely, just out of interest what happens if...

So while perhaps unlikely, just out of interest what happens if channel 7 gets > 50% of the company as a result of people not subscribing to the offer?

It said somewhere in prospectus they needn't announce a takeover in the event they gain a controlling share - so what does this then mean if they wish to place a bid for the remaining shares in the company? Can they just offer a premium to the market average over last few months, and it (essentially) automatically goes through?