Management couldn't accept the low-ball KKR offer, shareholders wouldn't be happy with such a decision when there are likely to be other interested suitors.
I agree with tadpole that a rejection is coming, shorters seem to be anticipating a negative reaction when it occurs. If another bid isn't made between now and the rejection I'll look at buying more on the negative reaction that follows the rejection.
Intrinsic value must be above $3.50 given the KKR bid. At the moment we are at least at a 10% discount to that. I'd like to get more at a 20% discount if possible
VOC Price at posting:
$3.20 Sentiment: None Disclosure: Held
