Ok. Thanks for replying guys. Bottom line is Autohome which is...

Ok. Thanks for replying guys. Bottom line is Autohome which is chinas biggest online car sales company made an indicative non binding bid to buy ICQ at 50c. The share price gapped up to 44c before drifting all the way back to 29c. ICQ last week said that the potential bidder is still doing due diligence. Autohome is looking to expand offshore as per their capital raise announcement a few moths ago where they raised $900m. They said 30% of the funds will be used for overseas expansion. Therefore $330m aid available to acquire something. At 50c it would require $220m . I reckon downside is to 25c if no bid and upside to 50c if bid happens.
that’s a bloody good risk/ reward for me. Why am I not buying more? Lend me some money and I will. I am full ,,,totally. Good luck.