@sergeant posted something a while ago about the takeover price being attractive enough for the majority of shareholders to accept.
At the time CWN was about 12.00 and the mkt share to buy out CWN was just under 5 billion so my calcs were around $14.20. It was suggested $15 would be the offer.
Sergeant also stated something about the <%1 of duffers left holding the bag.
srm777
Is cwn a great short?, page-4
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