RW Wrote:

NOT will probably extend the offer past Dec.1, if FWR doesn't find a better offer by then NOT will take them out.

Clearly this proves that FWR is in negotiations with a legitimate suitor, not just talking about the office boys' salary as someone suggested.

It also suggests that Noront is not even close to having 66% of the FWR shares tendered to their offer. Otherwise why would they agree to drop their rights plan challenge?

Mac obviously is very confident that he will get a deal, otherwise he would not have agreed to waive the rights plan on Dec 1. He knows it will never come to that.

It also indicates that NOT didn't feel confident that they would be successful in court, otherwise they would have continued to challenge the rights plan in court.

Yes it does seem clear that Noront will soon extend their offer and/or make an improved offer.

All shareholders of NOT and FWR should be rejoicing now because it is starting to look like this will be at least a 3 way battle. It can only benefit the shareholders financially.

Suddenly the 2-1 that was suggested is not looking so crazy. Of course future offers will not likely be share offers but rather cash offers.

So perhaps we can stop fighting among ourselves and be content that all our RoF investments will soon be worth much more.

SN