My view is that it's more likely "buy on the rumour, sell on the...

My view is that it's more likely "buy on the rumour, sell on the news" at work.

The selling isn't far below the take-over price. People who have ridden the stock up 70-something cents only four months ago will be taking their profit now and reinvesting it.

To realise the full take-over price - if it happens at all - you will have to wait months. In the meantime this stock will be stuck exactly where it is now... zero growth. Half-year dividend is also likely to be adjusted in the take-over deal so... zero dividend.

Can't you think of somewhere better you could put your money than that? If you can, you should probably sell too. If the deal goes ahead you've lost nothing. If the deal fizzles then the UXC share price will flop and you can buy back in at a margin!