To decimate means to remove or reduce by 10% so the TER offer has already decimated the UNV share price
I don't think the major holders would sell on market as there really isn't the depth for them to do that. I think they'd most likely wait for another offer or try to sell directly to another institution.
If they do though I'm pretty sure I'd be keen to buy some of what they're selling.
TER annoucnement, page-9
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