Some observations for the New Year.Share price finally broke a...

Some observations for the New Year.
Share price finally broke a significant resistance level and reached 86 cents, 2 cents clear of the offer price. However, I think that the volumes still seem to be quite high. Exactly why anyone who thinks 84c is too low but would sell at 85 or 86 is beyond me.
I wouldn't be at all surprised if there isn't some share leakage by devious channels. All these so called watchdogs, to protect our interests, are pretty ineffective. It's up to those with the knowledge and ability to keep a very sharp eye on this.
This is not the first company for which RG has launched a takeover bid, and failed, at what the target has described as “opportunistic”. McPherson's and The Reject Shop.
One positive with all this is if volumes dry up, reaching the magical 90% ownership target would then become increasingly difficult. The initiative could then switch to the small shareholders who could hold out for a realistic value leaving 84c a long way behind.
I might be wrong here but I think it's also worth noting that a well organised minority share ownership of 12% to 15% could wield considerable power and protection on a company board. There's nothing like a bum on a seat that really is independent. Something to think about.