reason for its unusual behaviour

In bidding for Ballarat, LHG has committed to issuing another 100 mill shares. Those that own LHG are selling to buy BGF at a small discount and/or those that dont own are shorting and buying back through BGF.

This is fairly normal behaviour for a stock making a scrip bid. However, once the excess is absorbed (probably some time this week) we can expect LHG to play catch up.

Just thought some of the posters in LHG might want to know.