Stockanalyst,That is a cloud cuckoo land perspective.Any sane...

Stockanalyst,

That is a cloud cuckoo land perspective.

Any sane PES holder getting his BG paperwork, and thinking, yes time to exit, will look at the market price and either:
1) Sell on market
2) Reconsider and hold.

I cannot answer for the insane, so who knows BG might get a few acceptances - but 10% out of 40% minor holders?? - what could have driven so many insane people to buy PES in the first place?

Contrary to your proposition, the ball is entirely in AOE's court. While PES sp above $8 BG get's no traction. While there remains speculation of a higher offer from AOE, or someone else then the sp remains above $8, and BG only get acceptances from some of the insane (some of the insane may be too insane to open the envelope).

EL