"Any MIN shareholder was / is able to buy NWE shares and flip them to MIN."
no = you missed the point.
I am not referring to "any MIN shareholder"
the post referred to a rumour "executives" of MIN may be buying NWE shares on mkt, then presumably accepting into the MIN offer, or even maybe hanging on to them.
"Executives" of MIN would not be independent - they would be "associates" of the Bidder MIN.
They also would be "insiders".
So i think, if it was the case, then they would be precluded from buying NWE on mkt.
Having said that, I doubt it is happening, and no one has provided evidence of that happening .
What intrigues me, is there were 162m NWE traded yesterday (13th), and 171m (12th) the day before.
Yesterday MIN got 130m, and day before got 107m.
so where did the balance go?
what will those holders do?
T/O closes on 29 April.
Surely it is short odds that MIN will get to 90%? Then those holders will be forced to fold into MIN bid - so they are now taking a position on the price of MIN at bid close date, or 90% Compulsory Acqn date.
Gutsy stuff IMHO.
NWE Price at posting:
6.0¢ Sentiment: None Disclosure: Not Held
