I'm disappointed CSFB (or the underlying hedge fund) has turned a net seller over the past week. Can't blame them for pocketing a quick 12% gain though.
Interesting times ahead, some of the instos are selling 1-2c above the bid price yet the takeup by Cliffs is pitiful at just over 4%. I can only conclude the hedge funds are now net sellers onto the market and the rest of the market is holding onto their PMM shares, rejecting the lowball bid.
PMM
portman limited
