If you were accumulating on behalf of a strategic buyer, Or were the strategic buyer, I'd be lending out as many shares for shorting as possible while I was building my position.
The fact it has been leaked is obviously counter productive to the main goal, so that does throw me a bit. It shouldn't be in the public doman, so it's either too good to be true (as you point out) or the strength of the shorting is so great it doesn't much matter.
Bellamay's was a classic case of that. Everyone knew they were going to get bought out, but the SP just refused to move up.
The Australian - Multiple suitors circling Z1P - DataRoom 7.40PM, page-35
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$1.65 |
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Mkt cap ! $1.858B | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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| 4 | 144386 | $1.64 |
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| Price($) | Vol. | No. |
|---|---|---|
| $1.65 | 170543 | 5 |
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