Your "backdoor takeover" strategy idea is completely unworkable. ASIC have "laws" on this - not "guidelines" like you suggest. BMM and GMM and Metals Acquisitions Corp would be deemed as "Associated entities" under the Corporations Law and their aggregate shareholding would be considered as one amount when it comes to ownership from a takeover perspective - and if that aggregate hits 20% or more then a specific set of takeover rules will apply. And they would all know this, and they would all abide by it as the penalties are significant.
Your "backdoor takeover" strategy idea is completely unworkable....
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