Hi Kiril,
The interesting part of the notice is that they have acquired 56m shares by economic exposure( rather than a direct holding as per the remaining 18m shares) under a swap arrangement which is required to be disclosed by the takeover panel: guess who the agreement is with -the another major holder BA and its subsidiary Merril Lynch.
I assume that means that BA have agreed to sell their holding to Delaware who are acting on behalf of UBS sometime in the future?
In the meantime Delaware on behalf of its client(s)( which is UBS or ? ) is willing to pay mid 20c on market
any reason?, page-13
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