HDG, Sorry. I didn't provide any real details. If a potential buyer had a valuation that they felt their share holders would not expect, they might choose not to make an offer. This doesn't necessarily show a lack of interest. We have 3 separate valuations that come into play when there is a takeover of a public company.
1. What does the buyer think a reasonable value is?
2. What does the seller think the reasonable value is?
3. What valuation is the open market putting on the company?
Even If the valuation model of both the buyer and seller line up, a sale still might not be possible if that number is to far away from the current market price.
To be perfectly clear I have no evidence to support this theory.
I do believe that it is plausible.
Sleven,
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