Good News & Bad News, page-35219

Quote from post - "Someone will come along with a pathetic $5.25 t/o offer and it will probably be accepted by the Board"
The board can only make a recommendation about a takeover. Every shareholder has the right to sell into the t/o or not sell. Only once a buyer has 90% or more can remaining shareholders be forced to seil (at the t/o price).

In fact, I would be very surprised if the board actually recommended a t/o at the $5.25 level. I think that a real concern is that many shareholders would actually sell into a non-recommended t/o attempt at $6 or $7 (not $5.25 IMO) which would allow a whale to get a majority interest in PLS very cheaply while the China recession has created a whopping hole in the battery market.