It seems that there was a big block trade after hours today,...

It seems that there was a big block trade after hours today, Deutsche Bank offloaded 16.6m shares at $2.60 (~10% premium on the close price), which comes to around $43M. So far I saw the news on the AFR and The Australian, we'll probably know more tomorrow.

We’ll see who the buyer is – the initial claim is that they’re not going to launch a takeover, but I reckon that all options are open. I would expect at least quick request for board membership and then further preparations for possible takeover – you’re usually not doing things like this just for the fun of it.

It’s worth noting that in addition to this block trade, yesterday and today’s total trading volume was around another 10% of outstanding shares. I reckon that's too much for opportunistic buyers (like few of us here) and day traders taking a punt, there were at least few large swipes of everything that was cheap on the sell side (IIRC someone noticed 500K shares in just one go yesterday).