On behalf of another is my guess? Market may have interpreted it as a blocking stake as the closing tick was atrocious yesterday. 1.3% down intraday, also note the instos in the Chi-X did not move so far down so IMHO it could be a tree shaking exercise before an alternative bid.
My hunch is that the Board and McLean were too quick to approve the bid. Varian Medical is IMHO quite an equivocal company prone to changing its mind sometimes over 7 years (in a Court of Law in our United States of America, see the case law below) and this unpredictability could have potentially negative consequences for SRX investors, see below:
https://en.wikipedia.org/wiki/Varian_v._Delfino
I would not take a stake in VAR. NYSE under any circumstances and its Chaikin has pulled back since $1.30 to $1.21 on the close with a similar closing tick to SRX. ASX. Some have its FV more like the long term SP of about 60 cents.
On behalf of another is my guess? Market may have interpreted it...
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Last
16.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $67.91M | |||
| Open | High | Low | Value | Volume |
| 16.0¢ | 16.0¢ | 16.0¢ | $730.9K | 4.568M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 1667096 | 15.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 16.5¢ | 264086 | 9 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| SRX (ASX) Chart |