Compulsory Acquisitionor Subsequent Acquisition Transaction DOES NOT EXIST. Ithaca Circular: Page 11 in bold letters - "There is NO obligation on the Offeror to complete a Compulsory Acquisition or Subsequent Acquisition Transaction to acquire all the Common Shares. Under the terms of the Support Agreement, there is no obligation on Delek to undertake or ensure the Offeror undertakes a Compulsory Acquision ..... to acquire the remaining shares. The Offeror has the reserved right not to propose a Compulsory Acquisition or Subsequent Acquisition Transaction." Delek Circular: Page 11 - "In accordance with applicable laws and IF at the Expiry Time the Offeror is obligated to take up securities validly deposited, the Offeror will extend the Offeror the Mandatory Extension Period. The Offeror MAY also extend the Offer for one or more Optional Extension Periods." In summary, Delek MAY extend the Offer but ARE NOT obligated to do so. That's my interpretation. Mugs