Of course we do not know who is picking up these shares. It could be friends or foes. None of us know which it is. I doubt it matters.
This takeover theme has come up before. None other than the Hoov has stated an unfriendly bid would fail. Insiders have too many shares. I think Hoov knows what he is talking about.
I also beg to differ with you when you say it does not matter if ZEN teams up with Phillips. Do you really believe there are enough shareholders who would go against an arrangement with Phillips? That's the best possible outcome. It can't happen fast enough to suit me.