This is truly bizzare... The only explanations I can think of for the oppies to be trading so far below the offer price are:
1/ Significant doubts that the takeover will actually happen. If it doesn't I can't imagine what's likely to happen instead except for a revised higher offer?
2/ Doubts that INR price will hold up at current levels though of all three it's the only one that seems to be showing any kind of strength.
3/ there are a lot more oppies holders without funds to convert than I thought...
GUJ
gujarat nre resources nl
This is truly bizzare... The only explanations I can think of...
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