re: Macquarie. They just lodge on the day they become a substantial holder. doesn't mean they have to buy the entire block on that day. they could just buy one share if it tips them over the 5% mark.
eg look at my post back in Jan http://hotcopper.com.au/post_threadview.asp?fid=1&tid=1931928&msgno=9007756#9007756
There was a Citicorp nominee account that was only about 2m shares under a substantial holder back then. Looks like they bought most of the ex Mrs Mason's shares.
Strange that they are using a Citicorp nominee account but not unheard of.
As for why? My general impression is that the MCQ guys are pretty savvy - maybe they like the SEA story - particularly when you add a big block of TXN's EFS acerages into it and figure that the Talon shares are a freebie thrown in on the side.
Oh ... and the meeting/vote are this afternoon. So another offer would be unlikely.
Nothing sinister in this cupboard?!
TXN Price at posting:
55.0¢ Sentiment: Hold Disclosure: Held
