"What if third parties are buying it here just to sell (transfer) it to their CRRC buddies after the deal to get up to the 19.9% limit at a cheap price?"

Hondo you make a good point and this would keep CRRC out of the loop right now of having to buy shares right now.

I guess there is a few scenarios that could happen with that. One I would assume it would happen in a cross trade. That trade would be done at prevailing market prices. If done after the announcement I would imagine (better happen) that the pps would be much higher. The seller that was acquiring now or before would profit. From that point CRRC would have to profit on their shares as well so you would imagine that the pps would go much higher from there.

The second scenario would be that someone else has been shorting and another cross trade would occur with the CRRC buying these shares from them. This would be a little tougher for the shorter to make money if done after the announcement presuming the pps goes higher at announcement.

Then again maybe some of this takes place prior to the announcement and we see a ton of cross trades. We know Jennings in mid Sept did at least 3M worth so far.