Bring in an independent valuer!, page-17

So, could TAH be selling off all the shares that they accumulated prior to the takeover announcement? If their polling is indicating that the bid may fail, whats to stop them making a killing on what they have already accumulated?

If they walk away from the bid prior to it being rejected, my understanding is that they have to pay a "fine" to ITQ (likewise if the directors of ITQ walk away from the deal). If they expect the bid to fail, then why not sell up beforehand; let the bid fail; walk away with a windfall and not have to pay the "fine"!

Win/Win for them.