Some further analysis on the actual bid by Skip.
The current bid at 23 cents which is $580 Million offer representing $320 Million equity and $260 Million in debt.
$320 Million equity = $0.23 cents per share x Number of shares. This works out to be 1,391 Million shares.
Why increasing the bid by 30% from $0.23 cents to $0.30 cents per share actually doesn't cost Skip 30% more. For Skip and Stonehedge to give us $0.30 per share it would't cost $754 Million (which is 30% more than $580 Million bid offer currently).
Providing shareholders with a $0.30 per share offer would cost Skip as follows:
Equity = $0.30 cents per share x 1,391 Million = $417 Million
Therefore the entire purchase price would be = $417M + $260M (debt) = $677M.
From $580M to $677M is merely only a 16% increase to Skip and Stonehedge. So shareholders are not being greedy we just want the bid to be 16% more.
Food for thought.