and there are some big parcels going thru.
1.5m , 1.0m , 2.5m etc (just some i have noticed).
so some big holders are getting out - but almost certainly, the hedge funds/instos are buying with the view to waiting for the possibilty of a higher bid.
they buy now at $1.475 - $1.48, then sell out at $1.52 in Jan 2012. plus get any upside.
so a sure bet - min 5c profit over about 3 mths.
Thats about 13.5% p/a with virtually no risk, PLUS the potential for a higher bid.
just their kind of deal.
in a crappy market thats a good bet for them i suspect
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