Just curious on this one, why do you feel the price is falling? Would this be doubts creeping in on the deal being approved?
It is hard to pinpoint, and could possibly be just a couple of large sellers raising cash for other opportunities. From the first pop on the takeover, it is down about 90c, which is a bit high but still within reasonable trading range activity. While the privatization from a large shareholder generally is seen as less attractive to some shareholders (i.e. insiders know more about the company and many feel they might be 'stealing' it at the offer price), there is also more regulatory concern because of the sector. But we have no seen nor would be that concerned about any 'new' development in the past week. Like any deal, it is not done until the cheque clears. The offering circular is not yet out, which will provide more details of the deal when available.