It would seem QBE have allowed their offer for IAG to lapse. Obviously the IAG board are proving to be very stubborn. I would think the offer lapsing will place even more pressure back onto the IAG board, and Hawker in particular, for their 'turnaround plan' to work.
Old Frank seems to be playing this perfectly. One would have to assume the IAG price will drop susbtantially today without QBE support. He may simply be bideing his time for another tilt at a lower price.
A short for IAG today???
Cheers,
Mac
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