if there is a takeover? whats a fair price?, page-9

Nut,basically there are two types of takeovers,either friendly or unfriendly.In the friendly scenario,the interested party approaches management with an offer,negotiations occur,and if the board feels the offer reflects true value at the time,recommends the offer to the SH.If the board rejects the offer for whatever reason,the buyer may approach the SH directly,looking for enough numbers who want to sell.This is an unfriendly takeover.The latter scenario will not occur with AHR as directors own half the company,so the bidders could never get the numbers.In a takeover situation,this is one of the benefits of a tightly held company.The bidder will always have to be generous to get the deal done.I think ball park $1 plus shares in the new entity or any spinoff.