RE: RE: no glitch the first timeActually that's wrong.
Tanganyika Oil (TYK) was trading around $28 at beg of Dec08-- then it was hit with a 2 week extension (read delay) -- which was within the terms of the arrangement (to get Chinese gov't approvals -- which would have been the easy way to kill the deal ) -- it dropped intraday to about $24 --that's about 24% below buyout price -- closed around $25 (21% below)
It gradually rose to $28 over next few days then jumped to $31 on leaked news they had gov't approval -- closed on schedule -- Dec 19 at $31.50.
This was a straight tender -- no voting. Have a look at the chart -- its still on stockcharts.com . Buyer was restricted from trading shares!
FSY at 5.70 is 19% below offer -- so this is not that unusual in this market -- however, TYK did not have the last two crazy days - also lower volume.
I just hope we don't get a bunch of daytraders really mucking things up over the next few days.
Really don't know what will happen .... Good Luck