The Chinese will be very watchful IMO of the bidding ... they may not want 100% but I'd be absolutely certain they would not want someone taking / accumulating say 10+% right here right now...
I had put the trading down to simple mopping up small parcels ... there is certainly IMO no 'enthusiasm' in the bidding ... simple gently gently accumulation.
No doubt hedge funds will play the arbitrage game and as we near the offer date increasing bid certainty will push the price to inevitable 55c bid...
Maybe the gentle push is more and more awareness / comfort with the deal... We're yet to endure the hard sell ex Mac Bank...heaven forbid their valuation might hit the table...
Have a great day... right up there with watching paint dry at the moment!!
GDO Price at posting:
50.5¢ Sentiment: LT Buy Disclosure: Held
