This is the way I see it Okay, we got hosed.
That being said, what can we do now? Our biggest/best asset is gone, so if we block this deal and vote against this merger, what will we be left with as a lone entity? We would get penalties for not approving the deal and I don't know how the $80 million on proceeds would settle, since it should be going into the new entity.
I'm not selling now and will likely vote to approve this merger.
Why, because if the deal benefits the two others far more than us, I can hope that the $80 million will reduce debts and make the new entity more appealing, with $0.30/share dividend. If the company appears stable and strong, maybe the dividend will be in the 5%-10% range, which could have the company trading at $3.60-$7.20 share.
Does any of what I'm saying make sense? Please feel free to poke holes in my logic and theory but I feel that at this point I have no choice but to approve and hope to re-coup my capital @ $3.27/share.
jacek99