Nah, I don't think so - I think they simply jumped all over 28...

Nah, I don't think so - I think they simply jumped all over 28 cents, as it seemed like a good deal compared to the 20 cents from Beach that they originally jumped all over. I can't see Hancock getting any more unless they increase their offer to at least 40 cents. For those wanting cash for their shares, it's a much more profitable (and quicker) exercise to simply sell on market.

Note the Hancock over still only represents 28 cents per share. They are currently nowhere near the 40% that will make 36 cents payable.