I believe the offer was mailed on Monday last week.
That means most of the retail shareholders didn't receive the offer until a few days ago. So I doubt they are holding out, not with KCN already moving to control.
What surprised me is no other party stepped up with a counter bid to force KCN to up the ante. KCN imo are getting control of LRC on the cheap.
I guess I can't complain as I hold plenty of KCN.