The bidders are certainly playing hard ball. As Taurus plus independent directors were around 11%, they will not know reach the 90% takeover level so there will be no compulsory takeover.
So the independent Directors and Taurus will be locked in as minorities and there would have to be a good chance FND will delist.
Not a great situation for either side.
Ann: TOV: Finders Resources Limited 02 Panel Receives Application, page-6
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