Tale of the Tape, page-9

I put a well informed and well thought out comment onto the latest Bristlemouth blogpost about what the legal/regulatory requirements etc. are for lobbing in another bid on the back of this one under the name of 'SG'.

Unfortunately, Forager declined to publish the comment, presumably because it expressed a view that was at odds with what SJ had said (he categorically said no second bid from CIMIC will be forthcoming any time soon, I said it's a plausible possibility), which is a bit disappointing, I never thought that he was the censoring type, but it's his blog, so he can publish whatever he likes.

The essence of what I wrote is that there is nothing in the Corps Act that prohibits a follow up bid, ASIC and the TO panel have a "Truth in Takeovers" policy, which basically means that they'll act to ensure that everyone gets treated fairly. However, they won't award punitive damages, so in practice the worst outcome that CIMIC can realistically have is that they may be forced to pay everyone (i.e., including earlier acceptors and sellers) a higher bid price, if they make a second bid.

The six month thing that SJ and posters on this thread talk about is more of a rule of thumb than anything that has legal backing.

If CIMIC really want this, then there is every chance that they will wear the higher costs and go for another bid right away.

I'm not saying it will happen, I'm just saying that it's possible.