LZA, I'm not sure what you mean by "can't buy till directors...

LZA, I'm not sure what you mean by "can't buy till directors make recommendation". Obviously there is someone who is not waiting for directors recommendation and are buying what ever they can at 33.5, now 1.6m with a further 400k waiting.

So who is buying ? Maybe another bidder, maybe a major who has decided that 33 wont cut it, maybe those involved in the valuation review, or as you put an insider who knows current bid will be increased. Who knows ? But from the amount of interest above the offer, I'm almost certain the final bid is going to be much higher than 33.

BTW, it has just hit 34 and sellers are drying up fast. May close 35+.
Sentiment changed to a speculative buy.