tide goes out on mangrove

Looks like Mangrove have given up the fight. They have filed with the SEC that they have tendered all their stock in the Dutch auction at 1.68 per share, a loss of about 6 cents per share for them.

They still oppose the transaction with BTA, but that seems hollow under the circumstances. Or maybe a threat to make sure their offer is accepted. They also sugest the NABI share price will tank after the auction. Maybe down to BTA's level.

http://www.sec.gov/Archives/edgar/data/72444/000152153612000670/sc13da208511002_07252012.htm