Perhaps this is the reason why Sin Tang is being attacked left right and center.
The XTA holdings in SPH today is the same as yesterday (as it will be pretty much until the 29th).
Clearly, Sin Tang is a master of strategy. There is a reason why Sin Tang is completely staying in the shadows and keeping quite. It's got the big share holders on side already.
The ball is squarely now in XTA's court to come back with a higher bid (and it can't really stall after the 29th by doing nothing).
One XTA comes back with $3 let say (the sad irony is the XTA 2nd bid can't be too much higher - as they will lose all credibility by being exposed to have lodged a sickening low-ball bid in the first place).
Then Sin Tang will wrap it all up with a counter bid at $3.50 and XTA can kiss goodbye it's hope of entering into the IO market with one of the best endowed IO provinces in Africa.
A stroke of mastery.
SPH Price at posting:
$2.51 Sentiment: Hold Disclosure: Held
