My understanding is PRU cannot buy on market nor can SVM as they have indicated they're taking their bids/proposals off-market. PRU could have easily have stated they'd structure it as an on-market proposal and stand in the market at 55c but they'd have to accept whatever they get even if it's below 50.1%
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- Ann: Response to announcement regarding takeover bid by Perseus
Ann: Response to announcement regarding takeover bid by Perseus, page-18
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