Go to the SEC website and look under RAD. Schedule 14A filed on November 24, 2015. Go to page 32 - Background of the merger. They list all of the information of the bidding process. There were about 6 people looking at RAD. The Company turned down an offer back in August for $10.30 and agreed to the offer of $9.00 in November......great job management.
It is amazing to read the process in the proxy of how they did the deal. It shows you how much corruption there is on Wall Street. The stock hit a high in the summer of $9.47 when the Company had an offer of $10.30 on the table. Management does not close on the deal and the stock drops back down to $6.00. Management then agrees to take $9.00 a share. This goes to show that there is still meat on the bone. The buyout number should be at least $11.00 per share. In reading this they had at least 6 others looking at them prior to accepting the deal.