merger details out, page-141

Excluding the current price, there are three things that bother me:
1) In any public sale/purchase negotiations you never lead with your best offer,
2) why SEA has remained so vague about what they intend to do with the $100m odd of the Section 1031 roll over cash and
3) John Armstrong's publicly stated intention of monetizing acerage developments to return cash to the shareholders.

when you think about the time frame and the current price, it is possible that another party will show interest, particularly if they've already been through the data room.

I wonder if SEA aren't keeping their powder dry to see if any other offers out of the wood work and may potentially sweeten the deal with a further cash offer.

In that case we'd go back to my original hypothesis of
a) 1SEA:2TXN &
b) 1TALON:1TXN &
c) cash of $0.xx per TXN.