RE: end game @ 80cents Dusty....
I don't disagree that the SP may be kept artificially low for a possible takeover....but a straight multiple on 20 day average SP is not a true way of valuing this (or any) company.
Just because the market knows our current CEO as the type of leader he is is reason enough to surpress the SP for the various reasons, various posters (incl me) have mentioned.
But just because the stock market may not value our assets properly does not mean that the assets are that value. We have been trading for months and months below asset value. A $25M plant (even with depreciation) gets us at or very near where we have been for 6-8 months!. That's the VMC alone.....as it stands.....and you're not factoring in the 3-5x on AH revs...etc etc etc...
Either way, you may believe that a takeout will occur with a straight average SP offer....but that does not accurately value any of the guns in the arsenal. I think we could expect a healthy McRae-effect discount....but I think that is what GW is trying to avoid.