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Consider the following news release, were investors being rational? Why or why not? Discuss based on the assumption of an efficient market.
Dividend?hopes?and bid speculation help boost Prudential (The Financial Times, August 5 2010)
Prudential is expected to lift its interim dividend by 5 per cent to 6.6p and could boost its future pay-out rate with results due next Thursday, according to analysts.
Shares in Prudential up 2.3 per cent to 582p, were also helped by renewed rumours that it was vulnerable to a takeover approach following the collapse of its $35bn bid for AIA earlier this year.
Dealers reported speculation that an Asian buyer was working on a potential offer of about 700p per Prudential share, which would value the insurer at nearly £18bn.
Really have no clues of starting this question, thank you for your help in advance.(I have also put this question in the Ask for Tutor forum.)
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