My theory on the short position is that people are taking a position on Tassal buying Huon.
At 13% you need a big seller so you can buy and close your position without Running price up. Tassal could be the seller to raise cash to buy Huon. Shorting Huon to get exposure to the tough industry conditions is too risky because they are obviously up for sale.
Tassal are the logical owners of the assets, true synergies exist. They wouldn't want to buy script for script and have the Benders on the register, so it really has to be cash from the market if they do it, and that would be the exit plan for the shorts.
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Why would you short Tassals *now*?, page-317
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