Cannot disagree with any of your reasoning and numbers. That...

Cannot disagree with any of your reasoning and numbers.

That aside, I cannot help wondering was is going on (if anything of course) behind the scenes and whether the sp is being manipulated?

In this difficult business environment a "merger" with PRG makes a lot of sense and and I would be surprised if PRG, having been knocked back with their first proposal, will simply forget the whole idea.