I am expecting announcements soon on acceptances. I read the bidders statement and it appears now that the only outstanding condition is 90% acceptance and specific company solvency, and no new share issues etc conditions. I can't imagine any insto playing cute and hanging out for a higher bid in this shaky market. I would think that the acceptances should be delivered asap so that Cliff's get over 90% asap and then pay everyone. Some insto's are still buying for the arb. ( about 2.3% for a month). Problem is that one can't buy enough stock!!
Does anyone have any thoughts?
PMM
portman limited
