RE:RE:Should CJ Be Interested In GXE?Ok I do not believe that GXE management or shareholders would approve a bid under $1 but maybe you are right and they would and maybe it is not worth bidding on over that amount.
So your offer would lower that share ratio to about 1 for 8 shares which would only add 30 - 40 million shares to the float or 230 million to the debt for a cash offer or 4.6 times the current debt.
I don't see a big savings over the 20% premium offer that probably has a chance of being accepted by management and shareholders but if you feel it is worth it that is the call.
As for the scattered lands most of them overlap CJ's existing holdings so CJ would have a chance to consolidate their holdings by adding to existing lands and selling off the properties that don't fit. Seperating the wheat from the chaff. I am not sure about the second rate aspect but since I do not know I will take your word for it and hope CJ's management definately knows good lands and a good deal when they see it.
GLTY and all