i posted the message two weeks ago but now it appears somewhat realistic
"The merger agreement provides that, in the event that the average closing price of K2 common stock over any 15 consecutive trading day period ending two calendar days prior to the closing date is less than $8 per share, then K2 can elect to terminate the merger agreement."
That means that now that KTO is in the 8's....it is possible that with some more market weakness, or some bad KTO news, that KTO's stock will fall below 8 and thus, KTO could cancel or amend the merger terms....meaning that maybe they'll renogoiate the deal to 8 bucks a share for RAWL...I think the market is begginning to correctly price in that possiblility.....
Perhaps my comment was not clear. Gil's average cost was probably about $4, he should have got about $8 on average for them. Not bad for a few months investment. Yes, I am a shareholder, a substantial one for someone who does not have Gil's millions.
So I guess Gilly's $8.50 offer WAS BETTER after all for the RAWL shareholders. The RAWL board is once again getting what they deserve. Not taking an $8.50 CASH offer over a bunch of "play money" that thoretically was worth 50 pennies higher was a dumb move. I guess you would expect that from the "five stooges" whose "ametuer hour" is now finally coming to roost!!!