Post on Yahoo pointed out to me... that the tender offer isn't closed, yet, so share price moves today are still likely to influence note holders choices. Today making it clear they'll pay $0.37 a share... when they could buy it in the market for $0.30 today. Yep. That makes sense... at least for another day or two... the higher rate note with the security in tied assets might be looking pretty good to a note holder today who is making an economic decision. Those angling for shares to get power instead of safety and total return... still have to figure a way out of the box management has built to prevent dilution, or to prevent any change of control if dilution happens. Still looks like a win for the company to me... only with even better prices today than yesterday.
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