But, if I call the company tomorrow and say I'll buy 100,000shares at market if you guarantee me that another offer is coming ...then they make the guarantee ...then I make the purchase and hence profit, I have clearly bought securities with information not disclosed to the public.
How does Kinross profit on the 15million shares they buy from themselves ?? The answer is they don't( the money goes from one pocket to the other in the same company) unless someone else steps up to bid on the deal....so if another offer comes in you might have a case if you could prove they knew it was coming.