re: another substantial holder jp morgan

Isn't it a laugh that both WPL and ROC are falling and HDR has gone up!

Hi H, my heart bleeds for them! :)

Anyway, to the more important matter since I don't really give a cr*p about WPL and ROC. Why would JPM buy such a big stake in HDR above bid price? My only logical explanation is that without another bid, they may just be playing the arbitraging game. At the purchase price of 2.04, it is still cheap if they think TLW will rise significantly over the next few weeks. ie. they will lose 2c per share on the cash component (max 60%), but gain more than that on the remaining script swap component (40% minimum).

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