Ann: Improved POSCO proposal and intention to recommend, page-132

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oze_wolverine

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15/11/21

13:28

Post #: 57583007
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Originally posted by Gwaihir: ↑

This is very interesting, and as far as I can tell doesn't happen very often.
Those behind the market usually know something, with retail holders left in the dark, and nearly always left to just theorize or postulate.

The Low bid price theory.
One theory might be that someone has heard a major shareholder may not support the takeover because they think it's a low price, and that the takeover will therefore fail and the price will sink back some.

The High bid price theory.
Or, that someone in the market who supports the Gina/POSCO alliance has driven down the price in order to make $4.60 look like a good price and therefore make the takeover look attractive so it will succeed.

And there may be a dozen other reasons, so we'll probably never know (as usual), because the market is a cloaked beast.

Gw

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or the obvious one, it's a market and $4.45 reflects a reasonable price of the deal going ahead for an arb buyer or a seller to take profits and avoid the risk of the deal falling over by vote. Certainly the price isn't giving much likelihood of another bidder.

SXY Price at posting: $4.45 Sentiment: None Disclosure: Held
5 Upvote

0 Great analysis

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Ann: Improved POSCO proposal and intention to recommend, page-132

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