Share holders would have to agree to the offer (obviously), and given the low volumes and participation at recent prices it is going to have to decent for us to agree. There is obviously a widely held view that NGM has decent prospects or there would be more trades at these levels. given that, I cant see PDN coming back to us with something that they are not going to be able to pass at a ballot. I'm looking for 30 to 50c min first offer.
