agm stung in market punt, page-21

Agree. The AGM blue sky believers have no idea on how takeovers work. The hedge funds are buying at $1.05 and will try and get another 5c out of ZFX. If there is no other bidder, ZFX will just sit tight and when the hedgies are convinced no other bidder is out there, they will agree to $1.00 and cop a 5c loss. It's purely a punt by the hedge funds. It doesn't mean AGM are worth more than $1.00. Lion Selection told you all that.
Where are the holders who still think $1.30, $1.50+ is on the cards?