Well it shows Ferrovial still want to buy BRS for $1.35. The buyback due to start 09/03/16. May as well buy shares right up to the TO offer price. Management can hardly say 'reject ths lowball offer', and not buy their own shares for the same amount. Ferrovial need to go 'unconditional' if they want BRS.
Ann: Sixth Supplementary Bidder's Statement, page-4
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