TTS went up because they expect KKR to up their indicative price of $4.21 as TAH current share price translate to $4.225 for TTS.
The higher the TAH share price go up, the higher TTS will go up. As said, if TAH loose this bid, it will be disaster for TAH. Not forgetting they do hold about 10% or so in TTS recently. They will profit some if KKR succeed with a much higher price.
Ann: Pacific Consortium Revised Indicative Proposal, page-15
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