From what I can read from it seems a lot of AULs difficulties was management/director related, I'm guessing WRM saw enough value in the land package to justify the acquisition. One of the threads also commented on AUL having tax credits which helps as WRM is a producer though i could not find a source to back this.
I do have to wonder why not just wait a while longer for a better price- at the rate AUL seems to be going based on operating costs and cash position it doesn't look like much is left.
I do agree and think that all current value in AUL is tied to the merger being successful, and the main deviation from hitting that AUL=0.78*WRM is from pricing in the risk of this merger not going through and thus AUL holders being stuck with nothing.
AUL Price at posting:
26.5¢ Sentiment: None Disclosure: Not Held
