Strange time to sell, just when they company has turned the corner in terms of sentiment.
Also, if there is going to be a hostile takeover, which your comments suggest is a real possibility, you'd think mid June would be the perfect time.
With so many people sitting on large capital gains, being able to split the income over two financial years will make people much more likely to sell half of the holding on-market prior to accepting any offer in the new FY. This would also allow the predator to acquire stock directly on-market, forcing up formal acceptances. If I were advising a potential acquirer, that's what I'd be telling them to do in order to secure those initial 20% and 50% stakes.
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