Rational investors if they want to buy, would like to see the market price decline now, so they can buy more shares for less money.
If they are desparate to sell quickly and are really only a trader, they want to see the price rise, now, so they may try to pump the stock.
That should be obvious. So those with high priced estimates are not necessarily patient longs that expect a deal announcement in January and that they will hold on until the deal closes, some months later.
I am curious about the supposed $4 offer that WND (obviously foolishly) rejected.
When was it (not after the AQN bid at $2.50, I suppose), who bid $4, what was the WND price at the time (presumably higher than when AQN bid $2.50), and why did WND reject it?
Can anyone supply these historical data?
Thanks in advance.