Barneyw, The people with the big pools of liquidity make the...

Barneyw,

The people with the big pools of liquidity make the markets on most stocks listed on ASX and it is they who set the direction. The smaller investors can't "will" prices up so they either take a I'm better than thou philosophy towards their investments or they take a reactive trading approach. Well enough wasted words on this argument back to DLS.

Spacetrumpet,

I thought the same but I think I saw a similar pattern they when they were trading in the 60's range as well and look were we are now.

Moviedancer,

It would be difficult for them to reject a $1.00 offer being so far above the current shorter term VWMA. As Wealth888 says the longer they can drag this out the lower the bar becomes in terms of the VWMA averages presented to shareholders in bid. The directors would find it very hard to argue against a bid valued at $1.00.

Wealth888,

If it's a merger by way of a scheme of arrangement you'll have the option of holding the merged company for the longer run as well so maybe not all is lost for those holding at higher levels.

Eshmun