1) The only reason CNMM would increase their offer is if there was the threat of a competing (higher) offer.
2) The only reason CNMM would decrease the % is if FIRB said they won't approve 51%.
issue (1) - we (the market) has not seen any competing offer, so why would they increase price?
issue (2) - Maybe more likely - remember there was the delay...which could have been after FIRB gave (informal?) advice that the deal should be revised in order for approval to be possible.
pre-open, page-19
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$7.61 |
Change
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Mkt cap ! $7.113B | |||
| Open | High | Low | Value | Volume |
| $7.65 | $7.65 | $7.49 | $13.50M | 1.778M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 10000 | $7.57 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.61 | 6808 | 1 |
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