Short Nightmare!, page-21

That's the funny thing about Cujo. He decided to become a holder a few months ago and that has raised his PR standing with the innocents, but he still despises the company, the mangement and us long term holders. He bought, apparently because a takeover is on the cards.
Ok, but he shows no enthusiasm for maximising the t/o price. If I was holding out for a t/o, I would be cheering every pip in the run up to the takeover event. Instead, we see behaviour more fitting for a fully paid up member of the WPL psy-ops/social media (sorry, 'disciplined, technical' M&A) team.
I call BS on his status as a holder unless he lays out how and when he expects the t/o to go down, and what sort of price he is expecting.