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Gold/Mining/Energy : Global Thermoelectric - SOFC Fuel cells (GLE:TSE)
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To: Casaubon who wrote (5942)7/14/2003 8:48:21 PM
From: Gulo  Read Replies (1) of 6016
 
Casaubon, GLE has been under accumulation for a number of good reasons that have nothing to do with the second bid (although a second bid was always a possibility).
The simple arbitrage opportunity v QTWW became ever more compelling as the deal looked more certain. On June 27, the price started to rise on the news that the dispute with Enbridge had been settled. That alone can account for much more accumulation than we actually saw. There is absolutely no reason to postulate insider trading as a mechanism for the price rise.

Besides, insiders own essentially nothing of GLE common stock, aside from the institutions that got stuck with it after the bust.
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