Based on closing prices today (SLR $1.00, EGA $0.285), the SLR bid is worth 5.3% less than EGA's market value. I have been tracking this since the offer was made and note that their bid value has always been less than EGA's market value, even when SLR was priced at $1.40. Normally, a bid that is anywhere near decent will produce the target SP to be under the offer value, especially if the directors recommend acceptance. The market has been telling SLR from the outset that they have it wrong. Hang in there everyone. SLR will either give up with egg on their director's faces or face reality and re-offer.
