So, if 'the market' thinks that ZFX only stayed with the bid...

So, if 'the market' thinks that ZFX only stayed with the bid becasue they picked up these acceptances, then it follows that the market will think that in the absence of any other substantial accepances (none advised) that ZFX may cease chasing AGM when the offer closes.
There's no-one in the data room (we'd know that as soon as anyone even looked interested) so looks like the market thinks it may be all over.
I had visions of the ZFX razor gang working over the beards.....