final bid of $1.80?, page-4

Yes, I agree with what you say.

This takeover (when/if it does happen) will be a long process and won't happen overnight. Will take even longer if another private equity group comes along (which if it happens, then I don't mind waiting even longer).

I do see though (or maybe I'm hoping), that when due diligence is completed by TPG (which I'm guessing may be in as short as 2 weeks, maybe 3 weeks), that an increased offer will come. 2-3 weeks is short term and not very long to wait.

The increased offer will probably come in increments like you say, but still, it is easy money to be had if you have a few months and money on your side.