so why the sudden concern over cfc departure??

CFC had withdrawn from the takeover process months ago.

ASX announcement dated 8th February, 2013 states that at the end of the offer period on the 15th February,

'The offer will not become unconditional and will automatically terminate'.

So why is everyone so shocked that they are now selling down their holdings, and is this such a bad thing? They no longer want the company and are moving on.

It now paves the way for other bids and/or refinancing proposals, both of which the company have said are in discussions, without the issue of a blocking vote by a major, disgruntled shareholder.

A perfect storm of selling, namely CFC departing, along with ASX200 rebal (as mentioned by others) just may have provided a good entry point, and I am taking that risk (with a tightish stop loss of course).

Not much comfort for long termer's caught up in this debacle though :(

Milesy