What now?, page-6

I'd be keen to know where Van Eck stand in this current merger deal. They hold 14% of PIR and are also on the register of many other gold mining companies, which could give them some leverage in instigating another offer.

I'm not in favour of the current offer and I'm fairly sure many retail holders would be looking for another bid to come in. I think it's all going to come down to what the instos think of this offer.

As Maccas were the advisor to PIR re this merger, it's fairly obvious where they stand and why they bought more stock while they were in negotiations. (an even playing field?)