I realise there are a few more steps to go before the Chinese...

I realise there are a few more steps to go before the Chinese can start their on-market buy up but I just couldn't help myself today. I had been buying some extras at 19c but today raised my buying to 21c. Knowing the small risks involved with the take-over not progressing a >10% profit on the trade just looks like free money.

Am I missing something? How do on-market takeovers work? What will the price do once they start buying? At what point can they compulsorily acquire shares?

I'm not happy with them getting the company at 23c so happy to load up to help the price along.