I suspect they are not that happy with due dilligence. Therefore why not match the bid in order to strategically dump a significant portion of their stake at an opportunistic price. Why not dump more? Well they did do a large part of the selling on Jan 4 and Jan 5, not exactly easy to dump their entire stake on market. Also although not happy with due dilligence, maybe they are happy to sit on a smaller stake for awhile. Either it gets gobbled up by Meijin, or maybe down the track they make another bid at a lower price..
Was happy to get out at my entry price of 41c and sit on the sidelines for awhile..
jindal retreating, page-9
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