The offer to buy all ACTU shares at $3.50 probably comes from ORCL. ORCL, SAP, IBM, MSFT and a few others have interest in ACTU. This offer will trigger other offers. Nicolas Nierenberg, Co-Founder, Chairman and Chief Architect stopped selling any share below $5. Except CFO, other insiders did not sell. CEO has over 5 million shares, some bought over $5/share. ACTU will not consider any offer below $5. Nevertheless, what do I know? The tender offer game has been very sloppy so far. The BOD needs to get its act together.