RE:$1.74...JEC is a hedge fund that wanted a quick sale of the company. JEC did not agree with the Valiant acquistion and tried to block it. Mgmt has a longer term vision of the company thus the Valiant acquisition was undertaken. They will sell when the time is right.
Mgmt did not cave to JEC, therefore JEC sold and moved on. Cheers to mgmt for not caving in to the hedgies.