RE:No Delek deal but sailing soonI remember at a AGM about 4 years ago when Iain was asked if there were any companies interested in Ithaca? He mentioned that they get approached on a weekly basis regarding this issue. So my point is that they were still continuing to buy stock at that time. This may be a bit different as there are 2 members of Delek sitting on the board now.
Jack is going out but he continues to buy stock on the open market. Sure does not sound like a guy winding down and going into retirement or he knows he has one last chance to make a lot of money and this last trade will make him a couple hundred thousand dollars. I think it was forced retirement, ha, ha, ha ......................who really knows?
I would say that Delek puts all this in writing after Jack and Frank are gone, so that would be sometime after the AGM.
Delek buys us out at $3.00 +. If oil does jump quickly to that $60.00 and beyond range then Ithaca will easily jump up past $2.00 on its own and then Delek puts a small premium on that number and out the door we go at $3.00 +.