Could also be politely stalling too the JV is done. Avoiding hostile takeover bid.
The price he would recommend to the Board could be $135.50 for all we know.
Reads to me someone not taking any option of the table as a good negoiator should.
I wouldn't be counting on this low insulting offer succeeding any time soon.
The Koreans seemed convinced they had a deal not long back.
Cheers EWO.
comments byhanlong & 2nd offr delay good 4 sdl, page-21
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