Osprey's decision top its own bid for AWG before a rival bidder has tabled takeover terms or even before it has posted its own offer document is not as odd as it might appear at first sight, writes industrial editor Mark Milner.
Other would-be suitors are hovering and while the increase in the bid from £15.55 to £15.78p a share hardly looks a shut out, the opportunity to acquire a 9.6% stake at the higher price does significantly strengthen Osprey's position if a battle were to develop.
Clearly whoever sold the shares to Osprey reckons it is better to take the money now rather than hang on for a better offer or unload the shares on the market, where a disposal on that scale might send the price south.
However with AWG shares still trading at close to £16 it would appear there are those in the market who disagree.
