This looks like a war of nerves. Since TPG increased their offer to $1.95 there has been about 10m shares change hands. If TPG have only gained 1.2m then someone or multiple buyers have picked up 8.8m. Looks like NXT have about 33.6m shares. Control requires 57.5m by either NXT or TPG.
The undecided holders are waiting for a counter offer from NXT. The TPG offer closes on 6 Nov unless extended or withdrawn. With the slow rate of acceptances to TPG, NXT seem to be in no rush to make a counter offer, but unless the NXT advisors have another trick up their sleeve, NXT will have to make a better offer to get this over the line.
NXT Price at posting:
$4.46 Sentiment: None Disclosure: Held
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