proportional off market takeover offer, page-10

I agree with Shania.

I would sooner take less for all my holding than a small premium for part of the holding and then possibly be stuck with the remaining shares.

If Emerald/NOP then go off the wrong track, ie: like the previous management of GLI, then what happens.

At least where they are only trying to get board control with a holding of around 20% (and this applies equally to Bell or Emerald/NOP) there is always the hope of being able to kick them out if things go awry. But if they become entrenched with a 40% holding then as the old saying goes "Houston ... we may have a problem".