Disclosure: The author has a short position in one or more of the shares mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
They don’t call this the silly season for nothing. Shortly after Inmarsat (ISAT) announced on August 1st that it was not interested in Avanti (AVN), a story appeared in the FT saying that it had in fact been willing to pay “at least” 140p per share (subject to due diligence) right up until the end of July, around five times the price at the time.