You can't have it Both WaysIf you haven't listened to the web cast I would recommend that you do so now. For those who believe in the management team and the BOD you should be listening to what they are saying and start reading between the lines. Management has had independent consultation and has come to the conclusion that this offer represents the best they could get. Remember, management knows intimately the risks and opportunities and they are giving their total support to this offer. This would not have been done lightly, especially with Stella about to come on-line. You can't have it both ways in thinking that this is a great company with great management and then ignore what they are telling you and that is that this is a fair price. Even FirstEnergy is on record as stating that the current offer is in the upper range of their valuation. Again, you can't state that FirstEnergy is a first class house (which I have read many times on this board) and then ignore what they are telling you. This, in my mind, is a classic example of shareholders expectations being completely out of whack with the reality of the sector. Ferret is correct and investors better consider what will happen to the share price if the bid is declined and Delek walks and IAE is left having to pay off that $600Mil debt in a volatile market with Stella unproven. Now is the time to mitigate risk and get on with better investments.
I do hope for those how decide to vote no that things work out (and I truly mean that) but I for one will not be taking on yet another level of risk on this company when a payout is at hand.