Well, there's two options with BPT on DLS - either they are...

Well, there's two options with BPT on DLS - either they are going for the takeover or they're trying to get a blocking stake (or at least a stake they can raise and use to block if the need arises).

The first case would obviously be positive for SXY - if one fish gets eaten, obviously SXY would be the juiciest remaining target (I'm not a big fan of COE but you may be) as the rest are comparative tiddlers (although that doesn't mean they may not also be targets, and there could be a real feeding frenzy once the first big player weighs in).

The second case; well, they'd have to be blocking for a reason, which means the sharks are circling.

I hold positions in both though so anything I say may be wishful thinking.