The AMCN is rather conservative in response to the $6.00 offer. That's a clear sign that it is working on a better deal. The 2nd buyer few days ago offered $344M for 75% of AMCN shares, that is $8.19/share. I just can not believe the 2nd buyer will let the 3rd buyer to snap it at $6.00.
Maybe there are more buyers. $344M is not a whole lot of money in China.
$6 actually is cheap comparing to the price few days ago.