RE:What would an unsolicited offer look like? I can't picture an offer being that high - most of the earnings growth in this industry is cyclical. The treated lumber processing should get a good multiple but not the wholesaling business. Maybe between $5-$6. Although I hope I'm wrong as I would love to see it go higher.
also have to remember that a takeover is possible with only the majority shareholder approving. We get whatever deal the majority accepts, and their cost base is much lower. They may want to ring the register and take profit even on a lower offer