I am not normally a conspiracy theorist - I think most often a straight line is just that.
However I noticed from the announcement that Cooke hadn't increased its holdings from 19 July - The same 10.5% ( or 10.49 in Substantial change notice)
Since that date and including the past few days 54.4Million shares have traded.
At first I thought that must be Cooke but why would you buy the shares of people who would sell. You still have to get to the meeting and get 50.% plus 1 share to pass it. I assume. Don't buy u - $515 @ 4% for 90days is p the shareholders who would sell. Yes there is 10c difference but given that this will take at least 90 days to get your money that is already 5c - I would not have thought that was enough incentive and as all the long term holders here seem to think its done and dusted. So who is buying these shares - ARG sold 3.5million of their roughly 10 million shares. I would presume they have decided to redeploy the funds.
So who would be buying for 5c and if it goes wrong you lose a lot more and the chances of a counter offer is very unlikely. The volumes are however 25$ of the company's shares. It isn't like 10%
So what is going on here? Shorts are exciting ... per Shortman.
TGR Price at posting:
$5.16 Sentiment: None Disclosure: Held