Today’s buying was 90% UAC as they look to grow their stake from...

Today’s buying was 90% UAC as they look to grow their stake from 17.5% to 20% and bidding above 92c is a strategic block to stay in the game.

I think tomorrow you will see the stock hit 94 - 95c being there is about another 25m shares available at those prices to reach 20%... if you think about it averaging it’s prices it paid at 80-86c and at prices up to 95c it ends up being about 88-89c avg lol.

if UAC makes this move this week it will be impossible for Iberdrola to reach the 51% target because this has now become a form of stock buying warfare by UAC.

can anyone confirm if Iberdrola can bid above it’s takeover offer without formal application or announcement to market?

if it can’t then it’s hands are tied because any investor can come along who does not wish to have controlling stake and block the bid by grabbing stock at higher prices.

lets see what happens tomorrow