I agree - if it was a bid of $4 cash then they are more likely to get a few offers.
Realistically, they have paid $6.30/share on market previously, there is no reason why the last few shareholders shouldn't get a premium to that.
Face it, they want the entire company - they won't settle for 80%. The 80% delisting is just a deterrant to holding and is a way for them to scare you into either selling on market to their third partys, who have the cash waiting to buy.
This is all just a ploy to get the company cheap.
Do not give in and you will be rewarded. It might take time but there is a good reason why they want this wrapped up quickly. I don't think it will drag out much into 2012. The bid will be revised when the volume dries up and they will continuously revise until they have 90%.
With 25% in safe hands, there is absolutely nothing to be scared of, in fact I would almost go so far as say there is is probably money to be made in the very short term by buying now. *buyer beware*
BRM Price at posting:
$2.27 Sentiment: None Disclosure: Held
