value returning, page-5

I don't think so, not enough volume. The EGM needs 75% to get a constitutional change up, and I doubt that will happen. I think Allan Gray is trying to prove a point about corporate governance and they really don't expect the vote to get up.

I don't know why the share price has moved up beyond the merger price, but the volume is not high enough IMO for there to be anything else going on, unless there is some other play about to happen and some have an inside run.