Glorieux, when someone holds directly or indirectly upwards of of 20% of your stock, as CLF does with FWR, you do not need a white knight. CLF only needs another 30% and it contols FWR effectively. None of this really matters, except to say that a 10,000 foot view of what is going on is that CLF is going to come out of this with a lot more than 20% , in part because major inside shareholders of FWR who want liquidity will be no closer to their goals with a pile of NOT stock. Do people really believe that CLF will just walk away with nothing, and their RoF influence destoyed ?