If the director is privvy to a future take over of a company and purchases the shares by the company they are a director of then it is absolutely illegal. The take over action is obviously going to impact share price. It would be no different to a director of a company that's a customer buying shares of a supplier before awarding a major/financially significant contact.
IFT Price at posting:
$4.60 Sentiment: Buy Disclosure: Held
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