Stockanalyst,
That is a cloud cuckoo land perspective.
Any sane PES holder getting his BG paperwork, and thinking, yes time to exit, will look at the market price and either:
1) Sell on market
2) Reconsider and hold.
I cannot answer for the insane, so who knows BG might get a few acceptances - but 10% out of 40% minor holders?? - what could have driven so many insane people to buy PES in the first place?
Contrary to your proposition, the ball is entirely in AOE's court. While PES sp above $8 BG get's no traction. While there remains speculation of a higher offer from AOE, or someone else then the sp remains above $8, and BG only get acceptances from some of the insane (some of the insane may be too insane to open the envelope).
EL
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PES
pepper residential securities trust no. 21
time is running out, page-5
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