if anyone is wondering who will be doing the buying of WCL...

if anyone is wondering who will be doing the buying of WCL shares, I reckon look no further than these hedge type funds.

think back to BOW, and these funds like DB Capital etc, were buying BOW sgares at around $1.47 etc (after t/o announced) then they simply waited to conclusion of t/o, and collected the $1.52 p/s.

so here with WCL , we have a far far bigger disparity between the sp and the proposed t/o price. its a huge return for a fund.

if a t/o goes ahead, it surely would be done and dusted within a 6 mth period. so say 10c margin on 55c for 6 mths is a 36% p/a return!

PLUS the very real possibility of a rival bid.

the downside of course is that it is only a proposal, and the offer may go away.

But imho, WCL is now in play - and something is going to give!

so wait for say Deutsche Bank, Morgan Stanley, Water Island Capital etc etc, to lodge a sub s/h notice at some time in the near future. of course that will only happen when they reach 5%.

cheers