Dont know about the market not liking the response. Only 10 trades since the announcement and only one large (100K), all the rest 20K and less.
The interesting point in that whole reply was the fact that HNC did not respond at all by the original deadline regarding what they wanted to do. Thor actually offered an extension the next day. So it looks like communication was a big issue, sounds like a souring of negotiations well before this. Which comes back to the selling of BTV shares. That's the real issue as far as I'm concerned and the response does not adequately answer that question.
Whatever happens from here, the short-term situation is that all the momentum has been lost, and it has some investors questioning the morality of the company. This will take results to alleviate so I see a dampened shareprice for the time being.
I have lightened my holdings until further positive news. Happy to pay higher price at that stage.
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