NOAM

I find it a little confusing as well because one would assume that the SP would drop below the offering price...

MAYBE SOMEONE CAN ANSWER THIS QUESTION.

Do the shares actually have to be sold on the open market or can the institutions just buy them outright?

I mean think about it RBC hands over $90 million in cash to CLL and in return gets a certificate of ownership for 100 million shares, they then in turn sell these shares on the open market. You know sort of like a store buying a product wholesale then selling it retail.If this is the case, then it would be in their best interest to drive the price up and realize a higher profit, would it not?