I think that TKT might like to see the price higher but at this point in the merger discussions in China can't let it happen. It is likely that the entity that they are in discussion with has a set point for share price where they are prepared to talk. If the numbers are on the table and stock price increases then that company may see an erosion of potential profit if the merger is an all stock deal (which it likely is). There can be few other explanations for prices being taken out on the ask to be replaced by lower asks. In a true "free" market when asks are taken out the price moves up to the next ask. Nite is quick to step in when that happens and put a lid on any price rise. My guess would be that the price is completely artificial so that after the deal (if it happens) the company they are in discussion with will have some built in upside waiting for them. That was certainly the situation when they dealt with Halee.
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