Just looking at this Announcement on the bid for LRF (ASX:LRF- worthwhile keeping an eye on their forum).
Being a 19.44% holder in MOY, it is in the interests of LRF for our share price to remain very steady. IMC has specified that LRF needs to retain a certain NTA for the bid to go through. Given the chaotic nature of the markets, anything could happen. It is also in the interests of IMC to have the MOY share price remain steady (or go up!) not only because IMC are a MOY shareholder, but also because they have offered a fixed price for LRF, but if the MOY share price rises, IMC gets more bang for their fixed-price buck.
MOY Price at posting:
61.6¢ Sentiment: None Disclosure: Held
