not really. nothing in there that says they put in a binding bid and also quite clearly states any bid might fall foul of antitrust laws.. the only thing surprising about today's movement is that it took so long to happen. it has rallied 40% on very little actual news and those that actually understand it know that this is going to be a very complex process with probable more pain before it gets better. There are definitely assets that make this company attractive at an asset level. but I would not be paying overs for it and certainly not for the entire structure given the problems the corporate structure has causes for the overall business.
MGC Price at posting:
85.0¢ Sentiment: Hold Disclosure: Held