Ann: Intention to Make Takeover Bid, page-102

"But TRS price seems resolutely stuck at 2.75 - 2.77 ...."

I don't understand.

What else could you possibly expect the share price to do, in the absence of any updates from the bidder, or the announcements of any competing bids?

For obvious reasons, it clearly won't fall below $2.7o.
And what would give it any reason to go any higher?