Why VLA and not BNO???, page-11

Yes the stock is being soaked up at 36.5-38.5c rather than falling away further as some here had predicted. Isn't that a good thing? I wouldn't be surprised if it is Merck that is buying. It has puzzled me that they keep to 5% rather than 10% (which would allow them to block a rival seeking full control). As to who is selling, it's most likely others (like you it seems) whose patience has been exhausted, just when the company is on the cusp of delivering what is likely to be a make or break result.