takeover bid is still on, page-3

This is correct. The bid is still capable of being accepted over the next two weeks with expiry on 22nd October. With PDN having over 70% it is more than likely that they will get to 90%. (If not, then there stated intention is to let the bid lapse, so there is still some risk).

I bought for a take over arbitrage at 14 and was facing a moderate sized loss if the bid failed but I chose not to sell after PDN tried to pull the bid because this result was always a possibility. On the other hand I did not want to increase my exposure either.
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My advice is free and worth every cent.