Linc has been building for some time...

Linc has been building for some time (http://hotcopper.com.au/post_single.asp?fid=1&tid=671792&msgno=2873913#2873913) While 5% may seem insignificant, it would be from LNC's point of view. They are now listed as a substantial shareholder, which means they can no longer covertly build a share without people watching and causing a big impact in the market.

They have bought in silence and now launching a takeover, as some have already eluded to merger is just a nicer way to put it.