I can understand the "Ceasing to be a substantial holder" notice...

I can understand the "Ceasing to be a substantial holder" notice as that would mean that the previous holders are happy to log out at the current price (discounted by around 4-5% of Banpu's offer)...

But, seeing too many "Becoming a substantial holder" notice recently....

why would anyone buy now when the upside is limited to just 25c from here....

Beats me....

Or am I missing something here? Not trying to say that we will see a higher offer as I think that it will not come....if someone was interested, they would have thrown their hat into the ring by now and not waited for Banpu to get closer to the TO milestones one by one....