FairPoint Communications FRP

Board Recommends Shareholders Reject Eldorado’

[thasis]

https://www.frontierpacific.com/viewnews.php?id=133

Eldorado’s Offer significantly undervalues Frontier Pacific and the Perama Hill project

Frontier Pacific is currently in discussions with other parties who have expressed an interest in pursuing potential alternative transactions that may provide value to Frontier Pacific Shareholders superior to the Eldorado Bid; and

The Eldorado Offer is an opportunistic attempt to acquire Frontier Pacific before Frontier Pacific Shareholders can realize full value for their Frontier Pacific Shares as the Perama Hill project advances toward permitting, development and production;

All of Frontier Pacific’s directors and senior officers, as well as certain significant shareholders of Frontier Pacific, representing an aggregate 39.3% of the outstanding Shares of Frontier Pacific, have indicated that they do not intend to tender their Frontier Pacific Shares to the Eldorado Offer.

If the last point is in fact correct, you do the math ....it is impossible for Eldorado to achieve a hostile take over as they cannot meet the 66 2/3% neccesary to achieve this goal.

Unless Eldorado has an ace (large shareholder sitting on the fence) in the hole??

[rtszd]

I'm a longee w/FRP and will be voting NO! Far more valuable than what Eldorado is offering! IMHO!