Good point. Generally I have to agree; no Company would want an infringement notice from ASIC.
But as I understand it, under certain circumstances a Company may be exempted from general disclosure obligations where the information is confidential and relates to an incomplete proposal or negotiation.
You may find the following link useful "Takeover approaches - to disclose or not to disclose"
https://www.lexology.com/library/detail.aspx?g=6c94c541-4823-467b-885f-6b8f2becadd2
Cheers
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