Anything in this? - or can we now conclude BHP are behind Citi.
1. They sell down their holding in order to keep the sp capped at ~90c level. 2. BHP then approach UMC with the offer. 3. UMC announce proposal to market at premium cash offer (~40%) - trading recommences on 16th/10. 4. Citi up their holding to 5.68% voting power on the 16th/10 (...good chance Citi have also been buying yesterday and today and now own a whole lot more than 5.68% voting power) - I guess we will find out shortly by those whom can post the BUYing/SELLing for these recent days.
What a farce, tho' entirely legal!
Am I reading too much into this?
UMC Price at posting:
$1.27 Sentiment: None Disclosure: Held
