Guys,
What you must remember is that Instos and Funds are held by internal mandates.....this said, even IF the thought that CNP was a t/over target they will still be forced to offload holdings, as price movement like CNP's (over the last week) would not be allowed in their risk/holding profile.
Therefore, their selling doesn't mean to say that CNP will NOT be taken-over or saved by a 'white knight'?
regards,