For those who have never experienced an on-market take over I'll...

For those who have never experienced an on-market take over I'll give a quick run down on my previous experience.
1) The predator will give a proposal to acquire all shares at a set price per share. We shareholders have the option to accept if we choose.
2) The directors will give their recommendation to the shareholders stating whether the offer is fair or not but it's up to the shareholder to decide.
3) a competing bid may occur, or if there is lack of interest by shareholders the predator may increase their offer. Sometimes directors seek other buyers if they have connections or received previous enquiries.
4) the predator must aquire more than 90% to compulsory aquire the remaining shares (at that point you have no choice).

That is one reason Farjoy has purchased over 10% of the shares, to prevent compulsory acquisition if a predator turns up without a decent offer.

How quick can the TO process go? 2 months is not unusual from offer to acquisition.

Haven't gone through enough TO situations. Hope to experience the excitement of one again

There can be variations on TO offers depending if conditions are attached etc but this is the basic process for on market take over offers.