the SP will only trade in and around the current levels until...

the SP will only trade in and around the current levels until the deal is resolved one way or another. There’s no way the SP will push above the $2.32 offer while it’s still on the table.

the only way we’d see anything above $2.45, or (better still), a RE-rate based on increasing actual performance is if both schemes are knocked on the head.

personally, my hope is that Mittleman is rallying fellow substantial holders to vote down the schemes and push for a much better deal, or at least allow the SP to naturally recover as trade returns.

there are some major international banks with plenty of VRL shares, I seriously doubt they’d be pleased with this opportunistic takeover.