Esken Takeover Rumours (ESKN)

In the context of a rescue takeover, a potential bidder may indeed offer a lower price than the highest price paid for the target company’s shares in the preceding 12 months. Although the UK Takeover Code typically requires a mandatory offer in cash at the highest recent share price, flexibility is allowed when a company is facing severe financial difficulties and exploring rescue options. In such cases, the Takeover Panel may grant dispensations from the Code to facilitate rescue operations and allow existing investors to consider a rescue takeover

you think they upped to just under the thresh-hold for a takeover very recently and then let this happen.....

Under the Takeover Code, when a buyer acquires “controlâ€￾ of a target company it must make a cash offer to all shareholders offering to acquire their shares at the highest price paid in the last 12 months. The Takeover Code deems “controlâ€￾ of a target to arise when a buyer acquires shares carrying 30% or more of the voting rights.