"Canadian hedge fund manager MM Asset Management, which focuses on event driven strategies such as merger arbitrage..." http://www.theglobeandmail.com/repo...se/mm-asset-on-the-hiring-path/article620617/
The Canadian hedge fund seems to use as one of its primary strategies, buying 5-9% of a companies stock once a takeover bid is announced. On all occasions that can be seen from a quick google search of companies they have done this with previously (and there are many) the purchase is for "investment purposes".
Anyway, the clue is in the word arbitrage i.e. making quick small percentage profit through opportune timing.
To me there is no doubt they will be selling there shares to the Bangkok thieves. But then again, the blame lies with Phil Byrne - I hope he chokes to death on his martini olive.
NDO Price at posting:
5.2¢ Sentiment: Hold Disclosure: Held
