IF PDN were interested in counter bidding, AND if they were...

IF PDN were interested in counter bidding, AND if they were smart, they would make a $1.50 TKO for JRL which is roughly its NTA per share (if you do the numbers that would vaue JRL's EME shares at $1.05 each - not much more than current EME TKO offer), then worry about cleaning up the rest of EME.

No one would counterbid on EME then since they would own 40% of EME through the JRL acquisition.

They could then offload JRL's other assets to get back part of their JRL acquisition costs.

I doubt the Chinese would want to counter bid on JRL since that would just be too messy for them.

Anyway that's just my opinion.

Cdchi1