Yes this offer faces a lot of headwinds on many fronts, not...

Yes this offer faces a lot of headwinds on many fronts, not least that AWE board didn't even consider the offer worthy of opening the data for DD. I get the feeling the offer would need to be around $1 before AWE would even be willing to start talking.

But regardless, the fact remains that this is just the latest in a long line of examples where local investors (including brokers and institutions) are systematically undervaluing local companies and screwing themselves (and retail holders) over in the process.