letter from mangrove to nabi holders, page-3

in fact NABIs price has held up pretty well post auction. 1.61 with 500,000 turnover last night. Some sales up to 1.70.
Looks like none of BTAs/NABIs other major holders have been convinced to buy Mangrove out at a price that suits Mangrove.

So they haven't sold out on market.

They have turned more hostile.

They don't need to convince every NABI holder to scupper the deal.

And if they fail, they will come onto the register as hostile.

Welcome to the USA.

Its interesting that they dont oppose the merger, just the cash that goes with it.