Rightly or wrongly...One might argue the "10% flip" reputation...

Rightly or wrongly...

One might argue the "10% flip" reputation Pattersons appear to have gained in recent times (at least in certain areas of the market), may well be evident in the current trading in ANP.

If so...then they appear to be jumping for much less than 10% on this occasion!

Not sure if this has become something of a culture at Pato's, or if indeed they actually have nothing to do with it?

It may well be nothing more than a hand full of their clients not conducting themselves according to usual SI etiquette...one might even suggest, less than "sophisticated" SI's behaving badly?

lol

Whatever is going on...I suspect Pato's need to address this growing market perception in one way or another.

Given recent examples (deserved or not), one might suggest many would be wary to bring them in for a CR these days...particularly if one cared for the health of their stock and profile of the post-CR free-float.

ANP's free-float appears to have been completely trashed...

Cheers!