It may be in regard to tax issues and the 11c return on capital.
Or it may be BTA making sure there have been no hostile or other parties suddenly appearing on the share registry. They have a limited amount of time before they need to announce their holding once they reach a threshold. From previous experience they usually get "friends" to also buy holdings of a few percent. This gives the impression of a rush of shareholders responding positively to the takeover.
Given the huge amounts of cash BTA will be receiving soon, if I was BTA management I would at least be dusting off their takeover strategy plans. Cash or expected cash is a risky thing to have, it permits rapid repayment of takeover loans.
M
BTA Price at posting:
$3.10 Sentiment: Buy Disclosure: Held
