agm stung in market punt, page-23

No I don't know fully how hedge funds might operate. However I do understand that using your example of a potential rise in the offer to $1.10 by ZFX, then they make more money if they buy at $1.01 than $1.05. hence my original question.

Or do they think there is a possible greater gain than what you are alluding to? BTW I don't necessarily think there will be a revised offer.

Cheers