Thanks. But Dingyi's market cap hasn't increased by $260m AUSSIE...

Thanks. But Dingyi's market cap hasn't increased by $260m AUSSIE dollars. Those are HK dollars. 12 HKD to 1 AUD.

However it is pretty clear that Dingyi is being bid up with a view that a takeover will happen. But here it appears as though the market doesn't believe a takeover will happen.

So why the difference?

Also I do not think that there is a competing bidder which is accumulating stock. It would be far too early after the announcement. But may be there was an interested party which has had it's nose point out of joint by Dingyi's offer.

Will be interesting to see what happens. That's for sure.