it seems to me there is nothing wrong with having a medium/long-term view on the merits of a stock - but then changing your view in light of a takeover.
whilst one might not be tempted to invest in BOW for the medium term, it would be quite logical ( and not inconsistent) to change that view, and invest in BOW at sub-$1.48, if one thought a higher bid was coming.
seems reasonable to me.
cheers
gas prices tipped to soar!, page-33
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