"CLF has just closed a common share offering and the net proceeds is 347,000,000 dollars...Some of this money is to be used for " strategic transactions "

"Some" of this money? Other than trying to pick up a few loose chickens like the one they already bought into, I would hope that the serious companies would laugh at them if they approached with this tiddly bit of cash. If they spent it all on NOT it would only add a little over $2 a share. Pffffff.... a far cry from $7 or even $4. Mind you, it does seem odd that NOT is being held at such a low sp.