The board accepts and recommends it (you can conclude why they have "happily" accepted, I am not going to comment).
We all know what the BS expert judgement of whether this is a fair deal is going to be.
If major holders hold out, the Chinese can either call the bid FINAL or up the bid price and then call it FINAL.
Until a bid is declared FINAL, it ain't FINAL.
On the other hand, if the board resist the T.O based on the bid price, the Chinese would use all kinds of intimidation tools.
One has to be nuts to accept the offer. Even of you are to vote NO and the deal goes through, you still get the same $$ in your account (propbably late by a few days IF AT ALL).
PEM Price at posting:
31.7¢ Sentiment: Buy Disclosure: Held
