RE: realistic agrossfarm, it was not just the hedge funds that were enraged when AGQ's bid did not materialize.
They solicited the shares of the largest shareholder but never made a formal offer to the rest of the shareholders. So it is hard to say just how serious they were about a takeover. A $2.50 offer may very well have succeeded a year ago.
A year later it seems obvious that a minimum bid of $3 a share will be required to take home the prize. Given that the development risk is removed from Windstar and Kingman the price will be higher than a year ago. How much higher remains to be seen.