Ann: Bidders Statement - Off-market bid, page-46

No no, it wasn't to me either! I was thinking this same thing through last week

The 50-90% scenario (and less than 75%) seems to me like the most likely outcome? Meaning they won't immediately be able to seek a delisting, but can effect other changes and DEFINITELY prevent us from terminating the management agreement with JBL. Unless a white knight came riding in with a superior offer, but obviously that's not going to happen.