AIRB (8516) - takover target?

The stock has risen a tad in the last 3 trading days before yesterday's slight pullback. The stock rose from RM1.00 to its current price of RM1.34. a 34% rise. There is a market rumour that the stock is being bought a by widely known Malaysian businessman, whose businesses include power, port, plantation, property and padi (rice). And do you know what is targeted takeover price? It is thought to be around the RM3.40 mark. That is a whopping 250% higher than the current price. I am a little skeptical bout the target but technically, it still looks good. I would not discount a run to the RM1.50-1.60 level in the coming days.