Hi all

Apologies for the newbie question but I have only been investing in PMs for 6 months and am trying to learn the ropes. I have been watching JAG for the last couple of months and with the chinese offer on the table, I am wondering why the sp is below the 9.30 offer. It is at 7.11 as I type and I am thinking that there is an easy 2 dollar a share to be made here. Is it just because there is no guarantee the offer will be accepted and it is up to the investor to figure out the risk. Why would the board refuse the offer as it is a reasonable premium to the original share price.

Any thoughts appreciated

bbay