Good to see UBS have bought into Volante to ward off the lowball bid from Commander. There are now 3 substantial shareholders to block the take over or at least greenmail a higher price.
If CDR are serious (and VGL were too), they would agree on somewhere between $1.15-$1.25 and wrap this thing up.
Macquarie are advising VGL and it must be a pretty easy job. All you do is keep quiet. They mustn't be incentivissed very well to extract a higher bid.
new substantial shareholder
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