Originally Posted by
KW
That's just normal legal language for "we are not making a formal offer at this stage because we havent done due diligence or decided a price and you cant sue us if we change our mind". But if it was not a full takeover offer in the pipeline or in the offer, they would not have said ALL shares, as that is now legally binding on them - they can't turn around and do a partial deal as then they will be charged with misleading the market, manipulating the price, etc. But a full takeover offer may not eventuate as they are free to withdraw their expression of interest (which will also require notification to the market). After that, they could put forward a second proposal.