I bought a small amount yesterday for the reasons you cite. And consider this...the stock was trading at around $10.50 per share prior to the acquisition announcement. Now that the acquisition is off, and with an additional $50M in the coffers, I beleive the stock will ultimatly move up to that level again...and beyond if management makes some good decisions in the coming weeks.
That's about right...exact same reason Lambert took over Kmart and SEARS..all about commercial real estate which is getting better by the yr..especially single lot valuable locations ..you don't or can't replace in high traffic metro area's. Lambert's holdings in auto zone might also make an offer now that Gores seemingly stepped aside, or did they?