This little scare tactic is actually revealing just how nervous CLF's are about this merger. They are trying to splt the forces of SPQ/KWG by offering SPQ more money for it's shares, and taking the offer away from KWG.

This is despiration on CLF's part. We have to stick together, and continue forward with the merger, until we reach a point where either CLF has made a decent offer to both parties, or the merger has reached completion.

kn