vic pet, page-9

I believe that would be something to do with the factor of time. Some people see that as the money from the offer would not come through till April next year that it may be more beneficial for them to sell out now and use those funds for something else in the next couple of months. So thus the trading at a discount to offer.

Others may believe the merger may not go ahead and therefore feel the price will drop... an some may just not like the uncertainty.

Each to their own I guess. Myself I think it is way to early days to be selling... I would rather see what else may happen first.