Keeping it Simple, page-7

I think you have missed the most likely outcome. And that is GR getting ALB to cut her in on the SoA. Why do you think GR will pay more than $3 when she can do a deal with ALB and benefit from the agreed $3 price that BoD has already agreed to support? ALB can choose to either share the prize with GR at $3 or pay more. Both ALB and GR have an incentive to try and buy LTR as cheap as possible I dont see retail shareholders getting any benefit here. BoD should have forced ALB to bid as a T/O. Then if there were other interested parties (GR) there would have had to be a bidding war. SoA (unless associated with VA/solvency) only ever serve to stitch up small shareholders.