RE:RE:BOD JOB PRESERVATION.....BNK worth a lot moreThen you think oil stays where it is. If that was the case then why would anyone want BNK? Think about that.
The offer is low simply because we are in a low price per enviroment. BC you have been preaching for months that once supply and demand balances out which we all know it will then oil will rebound. When? Who knows for sure but it will happen. These cycles are historically the same...price goes down and end of the world is here and before you know it we are all complaining about higher oil again.
Funny how talks have been going on for a year and the tax mess was supposed to be cleared up first quarter but then pushed to end of second quarter just before offer was announced. A favorable announcement would be good for BNK and would certainly have the shares probably where they were before announcement last November ($2 plus). THen would all you guys be screaming to take the lousy $2.20? I highly doubt it.
This has all been orchestrated for the low ball offer to look appealing, (which it does to anyone who bought in the $1.00 range) and BOD keep their cushy well paid jobs.
We need 90 million shares to say NO and it could happen.