how much they currently own is irrelevant to how much the owners...

how much they currently own is irrelevant to how much the owners of the remaining force them to pay.....
the market is in control here, if they want it, force them to pay the maximum possible amount.....
The only important aspect is what price are the remaining holders willing to let go at, for me hotchief have provided a floor....it's a fairly low risk play, issue is they are trying to take the company at the bottom of a cycle that has had numerous problems/restructures....core of the business is extremely valuable, especially given the perilous state of many other engineering companies finances, this puts LEI in a strong bargaining position to pick up further work, last thing a client wants is its service providers going broke