When you get a chance you should read the "Riceen Letter." He noted this bid months ago of $11.00. A share. At that time he thought it was a joke to offer such a low price. he goes on to state that there could me more bids by companies that have the cash for M&A. He believes the price of $11.00 is far too low and he expects the company to be sold at $12.50 a a share which he feels is more reallalistic.
There have been many anaylist that do not believe in this guru, but being 87% right is pretty good in my book.
Great article written last month.