It is fascinating, but they don’t need to be passive, my pure...

It is fascinating, but they don’t need to be passive, my pure speculation:

Roy Hill has their 30% partner accumulating shares- firstly up to major shareholder status and then up to 20%
Redstone can up their offer and buy more than 20%
FMG need to make offer and accumulate more shares.
Using Instro’s to accumulate is also an option- I think but I am not sure.

Or someone else is involved in blocking or accumulating above 4.2