Nobahamas, The question is moot. Since this is a tender, and not a competing bid situation, the only price is 285. You either tender at 285 or not. The notification by the broker is only setting forth the existence and terms of the tender offer.
As posted, IMHO GE will accept less than 90% for the reasons I set forth and yes unless a competing offer comes in and the board changes its opinion, it is moot.
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