I think we should remember the $4.10 figure given for an estimate of FWR value per CLF share is applied on the CLF total of 131 million shares. So they estimate 131m x $4.10, or $537 million in total, about double what was paid, still well below $4 per FWR share which might be taken as their meaning on first glance.

Timing of the deal was unfortunate, and was forced by another company we all know, whose management seem to be in tune with the character of some of their more fervent posters as shown on their board and the FWR board during the takeover fight.

On the other hand, CLF does seem to be poised at a fortunate position, with world iron ore and coal markets recovering, prices and earnings rising and share price likely to follow.