the cost of this dealcurrent shareholders

To put the 'offer' in perspective, basically Gilbertson wants to buy 3 of every 5 shares you own for $2.28. He will let you keep the other two which of course are worth the current market value. Remember, the company does not change one iota as a result of the deal getting up-just the personnel on the board (it becomes bigger and therefore more costly to maintain).
The 'promise' is a bigger company at some stage in the future, which hopefully means a loftier shareprice. Well, given you would have sold 3 of every 5 shares you own for $2.28, the remaining two of five shares need to appreciate in value, just to make up for the money you will lose if the deal gets up. That is, at a closing price today of $2.93, the new 'par' price would be $3.91-just to get the money back Gilbertson will take from you. It's not as if he's so poor he needs your charity, is it? VOTE NO!

current price 'par' price post deal (if it gets up)
2.28 2.28
2.30 2.33
2.40 2.58
2.50 2.83
2.60 3.08
2.70 3.33
2.80 3.58
2.90 3.83
3.00 4.08
3.10 4.33
2.93 3.91