INNOPAC

Really could not figure out why Innopac could rise so much (from a few cents to 20 over cents) at first with just some small acquistions (a few condo units, a few shop houses in malaysia).
Now that the news is out, Innopac propose take over bid for australia Merlin Diamonds at A$0.28. Deal is to be satisfy based on exchange of 1.67 Innopac issue consideration shares for 1 Merlin share. And each issue consideration share is price at S$0.2145.
Innopac should not let its share price break too much way off S$0.2145 if it wants Merlin shareholders to exchange their merlin shares for innopac shares. If the deal does not get through, in my personal opinion, innopac share price will tumble back to a few cents. 
 

Smells like the stock was played up in order to make it a valuable currency in the acquisition. what's new? 
U agree GEO? 

Agreed. Was wondering if it is a good opportunity to buy in to the potential diamond mining business at 20 over cents? Wonder if diamond mining is also worth as much as coal and gold mining.

Merlin Diamonds’ CEO bought 300 million INNOPAC shares at S$0.20, bringing his stake to 10.31%. These shares could have been bought earlier as the trading volume is less than 200 Million shares and 100 Million shares for 5 Feb 2013 and 6 Feb 2013.
5-Feb-2013: 89.548 Million   Hi: 0.210  Lo: 0.195
6-Feb-2013: 72.947 Million   Hi: 0.215  Lo: 0.200