I'll be keeping my shares and have zero intention of transferring them to RG unless he's willing to pay a decent price, which for me is significantly above $3.
But I'm in the situation I don't need the cash or dividends but understand those that do may consider selling for a loss.
The way I think about it, RG's a smart guy and despite a few years of him telling us how doomed the business was, he's been trying to buy it all up. For me, actions speak louder than words, and RG's action to buy the business will trump any words that come out of his mouth.
I wouldn't be surprised if RG offers a significant premium in say 6 months' time when he's realised the remaining ~10% of outstanding shares will stubbornly not be changing hands unless he's willing to offer a significant premium.
His end goal has always been complete, 100% ownership. For him, it's still a case of so close, yet still so far.
As always, DYOR, and do what's best for your personal circumstances.
PGH Price at posting:
75.5¢ Sentiment: Hold Disclosure: Held
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