Share Price Implications from knowledge gained from tender The knowledge gained from tender:
if I am ECA or a big oil takeover candidate, I now have knowledge of weak hands under $5,40, but do not know how many shares are available say, under $6 or $6.50.
with ECA having a billion+++ shares, lots of unknowns about what it would take for an acquirer to make a bid, even if they had some idea of what 4-5 major shareholders would take $ wise to back a bid.