green mail, page-102

since TMR made the offer the previous stagnant share price of IBR appreciated.
Will it retain its value if the "take over" proceeds, I felt it would result in the sp falling, therefor I sold at 89.5 as TMR was stalling in its take up of IBR shareholders.
Time will tell if I was right or wrong.
My gut feel is the offer was to low if TMR were serious, its possible IBR will either buy on market or increase its offer price to 5 or 6 to 1 but who knows that probability.