P & O - Full Steam Ahead

With the bid at 443, its no surprise that 'firm' committments are waning with the stock about 5% higher.

The fact that there has been no counter bid in the 6 weeks since DPW revealed their hand, and the fact that Temasek havn't added for a few days, makes me believe that the market have got this wrong.

At the moment, DPW are still in pole position, and can justifiably make their offer on a take it or leave it basis.

Why would they increase their recommended offer when no one else is seemingly prepared to pay more ?

Its not worth shorting to make 24p against losing who knows what, but I'm not sure its worth holding in the expectation of a counter or improved bid.

imo, dyor, nag etc.