RDI.L Share Price (RDI)

In my view (and experience as a shareholder) this REIT has been a value destruction project, overseen by a board who have decided to sell out at a discount rather than take responsibility and move the company forward. An utter disgrace, in my opinion. The executives have abused the fact they had nothing to lose and placed no value on the trust given to them by the company's owners. Yet they were compensated generously.

Can anyone explain why people are still buying?

Had your chips I'm afraid Charris et al vs further gains - Starwood have already built up a 29.59% holding + recommended by the RDI Directors,
so very unlikely anyone else will come out of the woodwork.
Unfortunately when interest is lacking it allows this sort of opportune approach - so it will be subsumed into a larger entity...will also have to look elsewhere.

Is it worth holding for future gains? I averaged down so am looking at a profit right now.

Cashed out, with a substantial loss. The offer price is not going to be improved, this is a done deal, so decided to go now and invest in something that will hopefully make back some of my losses over time.