I think you are making this more complicated than is...

I think you are making this more complicated than is necessary.

Look at the chart below:

The general uptrend in the LEI share price from 20/2/2014 following the final report is not in contention given that LEI exceeded expectations, and is consistent with a stock going ex-div. Note that there were rumblings still in the broker community about its large receivables balance so it still wasn't an impeccable result.

What is in contention is the rapid rise in the share price, and the urgency with which it occurred on 6/3 and 7/3. The share price increased by more than a dollar, by much, much more than the dividend. This wasn't normal trading by any stretch of imagination. LEI broke through key resistance levels including the $20 level like a hot knife through butter. This suggests that the takeover offer was no longer confidential.