They (BG) has still only got a bit more than 30% of the total PES shares, with only 4 trading days left to the 23rd of March.
IMHO, BG will extend the offer come the 23rd.
There are too many shareholders out there sitting on the fence for the time being, waiting to see what AOE will do and, even AOE would sell into them now, BG would still have to acquire about 35 to 40% more shares to enforce compulsory acquisition.
Also there have been many shares bought at more than the $8 offered by BG, which IMO went to funds. Some of them were bough up to neraly $8.50, and I don't believe that they would like to write a loss off at this stage of the game, as yet.
Anything is possible, but..........
Buddy
AOE Price at posting:
$2.64 Sentiment: LT Buy Disclosure: Held
