GREY:TWNNF - Post by User
Post by
joeking09on Apr 30, 2012 8:52pm
283 Views
Post# 19854375
going...going...
going...going... when the broker gets an order to buy 200,000 shares and he can't fill it thru' the institutional desk he buys in bits & pieces untill he fills the 200,000. the broker then crosses the 200,00 as a block trade. the end of day tape total will show 400,000 as being bought. IMG approached TRR in late march, at which time TRR asked RBC to market the deal-no other bid. The fact that IMG set the benchmark price with a small .10 per share break fee does not preclude another bidder. The high volume are the arbs and funds who now control the deal. IMG needs 66% and will have to come to some agreement with libra, van eck, sprott etc. Maybe they can squeeze more $$ out of IMG which has lots of cash, but remember the funds were in early and at a very low price per share and just like management they stand to make out very well at $3.30.