I don't think a higher offer will materialize. However there is nothing to lose on my end. So holding on and hoping for a higher offer. If nothing materializes, will be glad to take the $20 and buy NOV below $65.
I predict none within the "go shop" timeframe. Not enough time unless another company is already very familiar with their business model. I also feel they have tried to be everything of everything to all sectors in the insurance industry, where other companies such as Guidewire have been more focused (for example just P&C). My 2 cents worth.
Go-shop period not too short to get higher offers. Only need to submit an offer in that time frame, not complete a deal. In fact, they can even receive and consider offers after the Go-Shop period ends up until shareholder approval.
(c) Exceptions to No-Shop Prohibitions.
(i) Exception for Diligence and Discussions. Notwithstanding any other provision of this Agreement, if at any time after the No-Shop Period Start Date and prior to obtaining the Company Stockholder Approval, the Company or any of its Representatives has received a bona fide, written Acquisition Proposal, then (x) the Company (directly or through its Representatives) may make inquiries solely for the purpose of clarifying such Acquisition Proposal, and only to the extent necessary for such purpose) and (y) if the Board of Directors (acting upon the recommendation of the Special Committee) reasonably believes such Acquisition Proposal constitutes or would reasonably be expected to lead to a Superior Proposal, then the Company, directly or indirectly through its Representatives, may (A) engage in negotiations or discussions with such Third Party and its Representatives and (B) furnish to such Third Party or its Representatives non-public information relating to the Company or any of its Subsidiaries pursuant to an Acceptable Confidentiality Agreement; provided that all such information (to the extent that such information has not been previously provided or made available to Parent) is provided or made available to Parent, as the case may be, prior to or substantially concurrently with the time it is provided or made available to such Third Party).