re: take over..imho I'd suggest because Crosby already committed...

re: take over..imho I'd suggest because Crosby already committed themselves some 4 weeks ago by the announcement of a bid, in order not to run foul of ASIC/FIRB they had to carry through with the process anyway....so whilst it looks stupid to us they have to follow through on their opening shot.
Being off-mkt they are free of course to up the bid and waive conditions and if they are serious we may see a very large amount offered as control premium 40-50% (25-35cps), if not, for now they don't have a hope in hell with the increase in TYC reserves. Also bearing in mind that they can only get to 15% before having to go through FIRB and this will slow them down bigtime, I'd guess TYC will start to release more results and prelim stuff on the bfs soon...which will be hard for Crosby to knock off now.
I think we should all collect for and donate a good bottle of Grange to Crosby, in thanks for getting TYC the media coverage it needed!