I'm not sure as to the reasoning as to why you're saying it's...

I'm not sure as to the reasoning as to why you're saying it's either deal or no deal? Why exactly can Red not bump up their offer? Why can it not be negotiated on a no vote? I'm not exactly sure how you've come to a conclusion that says that GMD will automatically acquire Red if this falls through or that GMD or anyone other than Red has any say in bumping up the ratios to 1/4? Like I said before 1/4 would still be a good deal for Red if they want to merge with GMD instead of SLR over .57 shares when SLR is worth more than that in equivalent equity I say let them merge with GMD. At which point why would Red choose to not merge with SLR over something as small as .57 shares, that's like saying that they're rather take GMD which is overvalued and worse over something that is undervalued and better over what? 15%? like that's seems weird to me and does not seem accurate, that seems more like a biased opinion than one based in reason and logic?