If it is XT OS it stands for an overseas buyer via a broker crosstrade. If there is an "SP" in the code, "SP" is special trade where "the minimum consideration (total sale price) ranges between $1,000,000 and $5,000,000".
As far as a takeover is concerned, I think there has to be formal notification to the ASX if a holding goes over an initial percentage of ownership (possibly only 1%, but I could be way out) and then subsequently whenever the percentage owned increases by a certain percentage (possibly 5%, but I could be way out here too). Those numbers ring a bell in the old melon.
So in the scheme of things, those trades are likely to be someone overseas picking up a bargain - possibly some cluey hedge fund or perhaps even some investment house that visited any of the recent overseas Biota presentations.
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