Actually the price gets cheaper by the day. When the deal was...

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    Actually the price gets cheaper by the day.

    When the deal was first announced the implied offer was $1.49 (0.44 share) +$0.10 cash = $1.59 or $256.5mil implied offer.

    Assigning current SP of $1.55 = $0.68 + $0.10 = $0.78 or $126mil implied offer.

    Now I am starting to think the some of this slide may be related to getting the book value of this deal as low as possible.
 
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