RE: Strong hands!!The deal is all but done, wake up people !! You don't think GLD was searching the globe looking for a better offer before getting taken over by TRR in a semi-hostile way?
The only reason TRR needed to get to 67% was that GLD had shares (options and warrants) that were not accounted for.
So TRR went into the deal with the assumption they had 53.3% of 127 million shares and thought it was over since they had the controlling interest (over 51%).
When in fact there were 143 million shares when you fully diluted the shares and accounted for all the options/warrents because there were still 16 million shares not open for trading yet. So 16 million shares were not reported and TRR is now trying to get 51% of the 143 million fully diluted shares (or what works out to be 67% of the initial 127 million shares that are in the open market.)
This is why TRR made the second offer, essentially to appease the management and hedge funds so they would give up their 16 million options/warrant shares. This way TRR gets over the "real" 51%, fully diluted finish line. So like I said, the deal is sealed regardless of what the other <49% of the retail investors do... but you guys will do what you need to. I'll continue to buy more TRR till Friday.
Cheers,
Gamblor.