the way I read your original post, I was thinking you meant takeover as you mentioned making an offer.
what Hoots Janti and have suggested is not a takeover but taking control of the board with in excess of 50% of shares and votes if they vote as a block! To get to this OW would need to buy roughly 12 mill shares on market at say $2 so $24 mill plus our new friends would have to convert their 20 mill options at $2.50 so for $74 mill they can have control. They do not have to launch a takeover bid as there will be 4 or 5 individual shareholders.
CDU Price at posting:
$1.67 Sentiment: None Disclosure: Held
