But does this really make sense given that no deal is likely to...

But does this really make sense given that no deal is likely to be approved until November or December and they are then taking the risk that the deal falls over in which case the huge numbers of shares they bought at 18-20 cents a share end up being worth 10-11 cents if the deal falls over?

As much research as us retail folks can do, the top end of town will always be a step ahead because they know what the particular trade is that is taking place. Whereas we are all trying to walk around in the dark with our hands tied behind our backs.