Went in @ $3.88I read LGL respond to the takeover offer over and...

Went in @ $3.88

I read LGL respond to the takeover offer over and over. I think LGL broad felt merger with NCM is a positive move for LGL but at the right price.

The following are the shareholder lists of LGL and NCM:

LGL:
11 Mar 2010 Commonwealth Bank of Australia 8.88%
04 Mar 2010 FMR LLC and FIL 10.01%
12 Feb 2010 BlackRock Group 12.14%
19 Feb 2009 Nuveen Investments Inc 9.80%
19 Feb 2009 Merril Lynch & Co, Inc 9.96%

NCM:
02 Dec 2009 BlackRock Group 14.69%
11 Sep 2009 FMR LLC and FIL 10.14%
31 Aug 2009 Bank of New York Mellon Corporation 5.24%
27 Aug 2009 Commonwealth Bank of Australia 10.89%

I believe those institutions (counting for 40%+ holdings )will push the deal through and put pressure on LGL broad.

So I believe at last the deal will go through but won't reach to a $5 price tag unless there is a third party involved