Corporations Act 2001

A bidder making an off‑market bid may extend the offer period at any time before the end of the offer period.

If the bid is subject to a defeating condition, the bidder may extend the offer period after the publication of the notice under subsection 630(3) only if one of the following happens after the publication:

another person lodges with ASIC a bidder’s statement for a takeover bid for securities in the bid class;

another person announces a takeover bid for securities in the bid class;

another person makes offers under a takeover bid for securities in the bid class;

the consideration for offers under another takeover bid for securities in the bid class is improved.

Section 624 says how long the total offer period can be.