Hey Tenacious, I didn't like how it went down either but I guess that the cash situation really forced IDM's hand. I'm sure that the executives/board tried to drum up a better bid because they all have skin in the game. Walbert has approx. 200k shares of options that exercise at 3.18 so they are worthless and Palo Alto has about a million warrants that will be out of the money as well; though I'm not 100% certain what happens to those stock options.
That being said, there is still a chance that a better deal comes along but it is a long shot. Good Luck my friend!
I forgot to mention one other minor benefit to not selling prior to the tender and that is not paying any stock commisions. When you tender or get forced to tender, your shares are converted to cash and so no stock commision is necessary, just a tranfer. It's not a big deal but it can amount to a half a penny a share or more depending on your broker fees.
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