I would expect the bidder(brookfields/roberts) would start with...

I would expect the bidder(brookfields/roberts) would start with a lower bid price.Since the possible bid news has come out the price has fluctuated between $3.80 and $4.80.At one stage after it jumped up the bidder said to not expect which put a damper on the price which it went back to about $4.40.If you were buying an asset the old rule is to start low with your maximum price you will go to in mind.
Does the chart have relevence in a takeover?yes and no