I think the problem with looking to trading in AZZEF as a pre-indicator as to whether a deal has been done or not is that it is so illiquid.
Anyone with inside information cannot buy any meaningful quantities of AZZEF stock without seriously driving the price either higher(or lower).
For example, last night it dropped 12% on 9k shares. Similar percentage rises have also occurred on very low volumes.
Those with any inside information on the status of any deal would most likely be larger investors so their ability to make use of such information by either acquiring or selling any meaningful amount of shares is extremely limited becasue of this illiquidity.
We shall all now the state of play soon enough.
AZZ Price at posting:
47.5¢ Sentiment: Hold Disclosure: Held
