The 50% never really mattered. In the original bidders statement they said they would waive that condition if they got to 40%. With CHAMP's 16% and PSquare's 5% they would have made that.
@brisboy Psquare are a hedge fund that specializes in event driven investments aka. They buy shares where the price is slightly below the takeover price then accept the takeover. Based on my 'back of the envelope calculations' they'll make about $200,000 for their trouble with BKN.
BKN Price at posting:
$3.24 Sentiment: Hold Disclosure: Held
