make 75c on every share you buy now, page-3

Totally agree the Rinker trade was slighty under different condition however the mechanic of what you say in your last paragraph remain the same.

A "way for the market to scalp some money as a retail punter buying on market and accepting into the offer"

Obviously it all depends on where you buy and where the price is after the acceptance date.

IMHO I see current levels as a quick profit. Not to mention writing calls over the stock in the process to reduce the downside.