Check out the market depth boys (and Dans Mum). Sellers have all but disappeared. Still a few odds and ends selling into those buy orders at 35c but nothing to talk of really.
More importantly note that the buyers lined up at 35c now outnumber all sell orders in the entire market depther several times over. clearly shareholder are not convinced that this is a good offer or there would be more selling at the offer price. Also the fact that buyers are lining up to pay the offer price provides some interesting possibilities including:
(a) People are putting bit bets on expected a higher offer or counter bid.
(b) Another potential bidder is acquiring stock on market while negotiating with the recievers for that stock
(c) Minor have received FIRB approval and haven't notified us but are acquiring stock on market at the offer price.
I don't think (c) is likely as Minor would be holding the price up by doing this which is contrary to their best interests. Not many people will rush to accept an offer at a price that people could get on market.
So we have seen a time line from the recievers. Would be good to get a statement from management about their plans and whatever they have up their sleezes. Can't sit on the fence foreven chaps !
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