The reason, I think, people aren't accepting is this from page...

The reason, I think, people aren't accepting is this from page 12 of the bidders statement:

"You will receive payment on or before the earlier of:
one month after the date of your valid acceptance of the Offer or, if the Offer
is subject to a condition when you accept, within one month after the Offer
becomes unconditional; and
if the Offer becomes unconditional, 21 days after the end of the Offer Period."

As far as I'm aware the offer hasn't been declared unconditional yet so people are preferring to sell on market rather than wait a minimum 21 days after unconditional declaration - hence the downward pressure on the share price. This may also be the reason for the 2 extensions allowing the brokers and hedge funds to accumulate on their behalf with an agreement that when the time is right to do the deal, declare unconditional and mop up the rest - smart play imo.