RE:2million traded todayDelek needs to get over 50% of the outstanding shares they don't own for this deal to go in their favour. Like Londoner mentioned before, if they get 50% of the 80% shares they do not already own then that would be 40% + 20% (they already own) + 2.5% (shares that the crooked board of directors already have voted their way) = 62.5%.
Sooooooooo, If we have aprox 330 million shares oustanding that Delek does not have a part of then Delek needs 50% of those shares to be voting yes to this deal. I just can not see 165 million shares being voted in their favour for this deal to happen??
We need the big funds who have well over 100 million shares to tell these guys to wake up and smell the roses and increase the offer. These funds have a big stick and many small players have some big number of shares to actually make a difference in this vote.
I know they make everything look rosy and the BOD are making a killing with this deal but honestly they are stealing the company at $1.95.
I hope the big holders and all the little holders send a heavy message to these guys that they are wasting everyones time with this offer.
I also hope we start to see some NR's stating that many of the big funds that are against this deal have aquired many more shares on the open market since Mondays NR. This will also tell the BOD that trouble is coming down the tracks and to increase the offer or else.
Interesting times for sure.
I also know now why over the past year and a half that every NR interview with Les that he sounded like he was un-interested and not very excited about anything, if not down right sleeping. He was playing a very low profile because if he got too excited then this stock could have easily blown past $2.00 by now and that would have caused grief for Delek and the BOD.
HOW ABOUT THE SHAREHOLDERS BUDDY??????????
The only one in my opinion that like this deal are DELEK and the BOD.