That isn't what Jana wants; they have no interest in offering us anything. What they want is for AGU to spin off retail to unlock what they believe is much greater value if the 2 pieces cease to be part of a single ball of wax. The problem with what Jana Partners wants--aside from AGU's Board of Directors and its management being against it--is that unless the spinoff can be accomplished on a tax free basis, it makes no sense. Because once you lay on a corporate level tax as well as a shareholder level tax on the distribution, the whole idea unravels. And unfortunately, doing a deal like this on a tax free basis does not look promising to me.