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Thats a very good point and trust me your not the only one struggling to interpret these actions. A previous poster explained why Cicogne would be doing this as it fits a previous history of small margin returns but I don't think this applied to BNP, So it is still a little odd but all in all I have to think that this ship has sailed as far as another bidder or higher offer materialises, I will however certainly keep wishing it does until the very end though!
I reluctantly agree Billyboy. Looks like no white knight as as u I also show a loss so hanging in for the 20p as it all counts. Ive gained much knowledge though this share and think it could have been worse and lost much more. I got caught out with Afren and lost the lot, so to be a little under break even on this, i just count my blessings, the next one surely has to be a multi bagger!
JB - Let us have a little hope that something may develop off the back of these buys....... :)
Is it likely to ensure a Yes vote or could there be other reasons......for buys
That would be a logical assumption.... but this share has been anything but... Cigogne do seem to be accumulating though.
This share has been everything but logical for quite some time. Just keeping fingers crossed that there is another twist before the deadline date.
Cigogne again perhaps......but for what end?
Are there any logical reasons to this other than a small % increase when the deal goes through?
Its quite plausible given those who have been buying recently, however, I like most never considered such a low offer being accepted and this has completely deflated my expectations and anticipation for anything better to follow from here on. I sincerely hope for all that we do see another twist in the form of another bidder, I have been in since before the 35p placing and consider myself to be lucky to have averaged down, however for other long term holders this must be a real low point and hope of a bidding war or increased offer seems a distant reality.
Cigogne UCITS - M&A Arbitrage The choice of the assets is guided by an arbitration of mergers and/or acquisitions, consisting in benefiting from the price differences which can appear at the time of takeover bids or exchange. In that end the investment strategy is to lock in or otherwise trade in the spread by purchasing (selling) securities of the target or subject of an announced merger, acquisition or contest for control and selling (buying) the deal consideration. Specifically, in case of tender offers, the investment strategy is built up to lock in the spread by purchasing securities subject to a cash or a mixed tender offer and tendering such securities while hedging the resulting long position until the term of the offer. The investment strategy is essentially limited to the operations of declared mergers and/or acquisitions and is based on a solid and detailed analysis of the economic, legal and competitive frameworks.
Cigogne Management S.A. Founded and 100% held by Credit-Mutuel CIC Group, Cigogne Management S. A. is an asset management company registered in Luxembourg and operating in the hedge fund industry. Cigogne Management S.A. ‘s main focus is to provide its investor base with absolute return financial products, targeting stable performances over time, independent of market conditions and in a context of limited and managed risks. With more than 20 years of experience in alternative asset management and a ground breaking track record, CM-CIC Marchés, proprietary trading account of CM-CIC Group, is Cigogne Management S.A.’s investment counsel.
Acting for another bidder waiting in the wings perhaps......
I was considering dipping my toe in this one but think its best left for a while???