My understand was that it isn't actually legal for an acquirer to be buying shares on market, but I may be wrong.
However, where the acquirer is paying a broker handling fee on acceptances, as they often do, it then becomes worthwhile for brokers to buy on-market at the offer price and then deliver them into the bid - the broker gets to keep the handling fee paid by the acquirer as their incentive.
KIM
kimberley diamond company nl.
My understand was that it isn't actually legal for an acquirer...
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