The actual % that the "Bob's" own is 8.76 %. The 13% number includes unexcercised options that even these two clowns must realize are worthless. This is a long way from a majority necessary to approve the merger.
I also noticed that on February 10, 1998 that Wellington Management filed with the SEC stating that they had sold all of their shares.
If the merger is such a good deal why did they bail out?