what will happen if i don't take the offer, page-15

beejay41 ,
according to the t/o rules, if they exceed 50% in the last 7 days of the offer it is automatically extended for 14 days. they reported that they reached the 50% on dec 7 which is 7 days prior to close, so they have to extend.
naturally they dont want to announce that until the last min because they want to pressure people into accepting before dec 14.
of course the big buyer today would be looking to accept since they bought at 3.2 cents, so the offer has to be extended, since settlement is on a T +3 basis i.e. next tuesday