JS, or anybody else calling this a takeover (emotive term IMO) -...

JS, or anybody else calling this a takeover (emotive term IMO) - another reference from the Government this time so official:

http://www.takeovers.gov.au/content/DisplayDoc.aspx?doc=panel_process/summary_of_takeover_provisions_in_australia.htm

Summary of takeover provisions in Australia

Types of bids
There are 2 types of takeover bids: off-market bids and market bids. The provisions dealing with the main features of the offers differ depending on the type of bid.

A bid can relate to any class of securities.3

The differences between market and off-market bids include:

consideration under a market bid must be cash only, while an off-market bid may offer any form of consideration (including cash, securities or a combination of both)
a market bid can only extend to quoted securities, while off-market bids may be for quoted or unquoted securities
offers under a market bid must be for all the securities in the bid class, while an off-market bid may specify a proportion of the securities in the bid class to which the offer relates4
offers under a market bid must be unconditional, while offers under an off-market bid may be subject to conditions that are not prohibited by ss626 to 629 and
for a market bid, an increase in consideration is not passed on to those who have already accepted the bid, while for an off-market bid, if the consideration offered under the bid is improved, those who had already accepted the bid are entitled to the increase (s650B(2)).

All offers made under an off-market bid must be the same.

Other relevant takeover provisions that apply to both market and off-market bids include:

s623, which prohibits the bidder or an associate of the bidder from offering a person a "collateral benefit"5
s622, which prohibits the making of a pre-bid purchase, within the 6 months before the bid is made or proposed, which gives the seller a benefit that depends on the value of consideration to be offered under the bid (an "escalator") and
s621(3), which provides that consideration offered for securities in the bid class under a takeover bid must equal or exceed the maximum consideration that the bidder or an associate provided, or agreed to provide, for a security in the bid class under any purchase or agreement during the 4 months before the date of the bid.

Further, it is an offence for a person to propose publicly to make a takeover bid for securities in a company if that person does not make offers for the securities under a takeover bid within 2 months after the proposal.6 The terms and the conditions of the bid must be the same as or not substantially less favourable than those in the public proposal.

CW -
So in summary it does not walk like a duck, look like a duck or sound like a duck. It is not a duck it is a proposal for a commercial partnership at most or capital injection at least. The alternate view, the second 'dictionary' definition is actually wrong. Sik am I still being disingenuous?

Cheers,
CW
DYOR&DD