ah, but it cuts both ways when you cannot get a hold of shares. Also makes it easy in general (not saying anything is afoot here) to see takeout offers jump by quantum integers when the amounts have to be spread over so few shares. An extra $10 per share here (over whatever the current stock price tends to be at the time) only costs one about $86 million. I usually figure if i got a tiger by the tail why worry about the illiquidity when there's a good chance management ultimately will sell it for me anyway (not a trader am I). Besides, unless you own about one million shares, you probably had enough opportunity to exit today pretty fluidly if you wanted. So to sum up IMO illiquidity is more likely a deal maker---I just hope we don't see one until management has a chance top grow it organically for a few years first and show their stuff.