IGAS and their co-conspirators will keep the dte price low and prop up their own. It's not a cash offer so they're just pulling levers to make the proposal more attractive. moving the price up is the same as offering 10% more stock so it's cheaper to go this route. It doesn't cost them that much to do. We know the IGAS CEO is willing to pay up to 1.70 for IGAS stock. IGAS is also tightly held so it doesn't take much to move up the price. Also i didn't see any clause in the contract that states if IGAS share price drops too much then the deal is off...I hope that's not the case or it's very short sighted of the deal makers.
DTE Price at posting:
12.5¢ Sentiment: LT Buy Disclosure: Held
