I should have added, that I do think GCY needs to now at the least, delay the FFR/GCY vote by 2 weeks. As the reality is, WGX has upped its bid, albeit, by such a small amount is quite insulting. However, as others have pointed out, GCY board must... be working hard to secure the highest possible bid from WGX. The main issue currently, is that WGX won't go unconditional, due to the GCY/FFR merger, which causes the disconnect between the bid price and the current GCY share price (that is from my GCY share holding perspective).
If the increased offer had been, well... increased by more, the GCY would have had no option but to do the above, yet, the weak offer, simply means the GCY can likely argue... it is still not superior....
All one can do is enjoy some popcorn and watch the 'show' continue.
WGX Price at posting:
$1.96 Sentiment: Hold Disclosure: Held
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(20min delay)