Why would you short Tassals *now*?, page-318

Good theory.
ACCC or whatever they are called might have something to say about that re reduction in competition.
It's really a two player market for farmed salmon and this takes it to one (Petuna not a factor).
If the definition of "market" included all fish/seafood sold it would be a different story and your theory would be a cracker.
In that event a rights issue would be the answer rather than a placement. A rights issue would freeze the shorts out and the earnings/valuation accretion for Tassal would be enormous, and drive a massive re rate.