RE:Let's be rational.......I don't agree with your opinion on the value of Ithaca but that is your opinion. I have read comments that the offer is fair value. Well usually in a buyout they pay a premium over fair value (not just over share price). The difference they pay is classified as goodwill on their new balance sheet. I believe there is a 20% goodwill factor still on the table.
I do agree with your last sentence that we should see if anyone else comes in before makeing our own decision. I'm not deciding until we know what the institutional guys are doing. Will there be threats of legal action? How much heat will these guys take in the press / investment houses over this deal. A lot can change by the end of March (when we will receive the buyout papers).
As for management recommending the deal, well to most shareholds that means nothing because they have little credibility left after two years of delays and poor communication with shareholders. In the end if the deal seems invevitable I won't fight it but make an informed decision to sell.
Waiting costs nothing and could acctually protect us from any potentioal Trump induced market slump over the next six weeks.