where is the threat?, page-26

Westcott - ever wondered why the SDL SP is languishing BELOW the Hanlong take-over price? The market does not for one second believe that there will be a bidding war for SDL, otherwise the SP would be at parity or above the Hanlong TO price.

The market is indeed telling us that the most likely outcome is that the Hanlong take-over will proceed, although that is less than 100% certain hence the discount to the TO price.

Squidd's view is therefore backed up by the broader market (which reflects the opinions of institutions and investors much more knowledgeable and sophisticated than those on HC).

You don't think the likely outcome is that Hanlong has it stitched up. Good onya, and kudos for admitting you have no basis for that other than a gut feeling.

But why shoot down somebody for stating what is the bleeding obvious to everybody else.