What usually happens to share price if takeover bid fails?
For example with Orica ($33.90 now), if it fails, will it most likely go back to $28.00, or hover somewhere around $33.00?
Also the same with Qantas. With Qantas, it's been trading above $5 for 5 months. If the takeover suddenly fails, how likely is it to go back to $4.40?
Thanks for any information.