I see point 4 as the most critical.
The current board mismanaged the company into this mess - who would possibly want them in any way responsible for running IGR now? (or the new merged company for that matter)
They've got to go! This merger with SLR is a good clean way of getting rid of them. From what I have read about Davis, he is a focused manager, frugal, and doesn't waste money. Something the IGR board could learn a lot from.
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