Really, what were you putting in the peace pipe to do that? You should have been a happy chief. I saw a 'happy chief' on a Chinese menu not to long ago, but can't remember what it comprised.
a 40% premium barely gets it to 20. You won't see any offers. The Chinese were the highest at 21. No one will top it.
I think they may not be buying back anymore with the big fall in earnings this Q and coming Q's. Prudent to hold the cash.