Ok guys, people obviously are fretting because they don't know the placement price. It is done by a book build to instos and sophisticated.This means that these guys bid against each other for the 40m of shares. If these guys deem that the takeover is going through, they'll put In high bid so they can get themselves set. We'll know next week. They may however want to screw it down in the mean time so that it looks unloved and can put in a lower bid. One thing worth considering is that the lower the price, the more hanlong lose, so it is in their interest to get the book build done as high as they can. Who knows with this mob where this price will go. Wish I never heard of this stock - it is rubbish.
SDL Price at posting:
37.5¢ Sentiment: None Disclosure: Held
