RE: GET READY! This is an interesting question, and I wonder how much the potential bidders and management are considering the price that would be accepted in their calculations. First there is a distinction between institutional holders and retail holders. Many of us would say we wont accept less than 4, but if all the big houses see a great chance to even get profit at 3.25 and increase cash position (which many are doing) then our hoped for level is meaningless. Management does have a good sense of their role to maximize shareholder value, and because of that I think they have pushed for 3.75ish. I think $4 will not happen but 3.50-3.85 is possible. BUT I could also see 3.35 still being accepted.
The really interesting thing could be if there is a counter bid by another party. I woudl hope a NR would give us all the information if a bid is made, so we know if there is another company that management thinks may still want time to make a bid. How many of us would stick around for a possible biding war, or cash out?
This has been interesting dynamics, no one wants to be the 1st bidder, it makes them play their hand and allows someone to make a slightly better bid, forcing the original bidder to counter bid or look weak.
I do wonder why a tanker full of oil is siting not even closer to the NIGG port/terminal? Very mysterious.
Tomorrow should be interesting.