Ann: Letter to Shareholders , page-19

They'll easily get the 500K per day if they push the price upwards towards $2.80. There will be a lot of holders who are holding on because they don't want the WNI scrip and $2.80 is close enough to a $3 cash offer. Deep down I think we all know that the Sham won't improve their offer and getting up to $2.80 on market is as close to $3 cash as we're likely to see.