For those who have bandied about % premiums in a buyout....MTU was taken out today for a 100% premium. And here's the kicker, the buyout price was still way too low despite the large premium.
WRN's price after RIO buy-in moved up to $2.83 USD, doubling that is $5.66 a share or in the vicinity of Mr. Sooner's preferred $6 price target. I'm not advocating that his target is correct, other than to say that it realisitcally is a worst-case scenario floor.
Anyone talking about (or even wanting) a price sub $6 needs to research the phrase "excessive pessimism".