all a competing company does is keep them honest. Existing shareholders get closer to real current value. Without another offer, all they do is keep bumping their offer until they get the 50% they are looking for. That could be well below what they would otherwise had to pay.
They will get some at 60 cents and as they go higher they will get more. I don't know at what point they get what they need.
JFF7
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"Markets can remain irrational longer than you can remain solvent". - John Maynard Keynes
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