All right so I just got through listening to the FWR conference call. They lost no opportunity to call the NOT bid "opportunistic" and "hostile". I wonder however if an opportunistic and hostile bid might still be the best bid.

Regarding the questions and answers in the conference call I will start by admitting that I am chicken about asking questions and especially one that might have caused an uproar but I believe that the most important question was not asked and that question is that given that the resource will be entirely lost to FWR shareholders in the takeover by Cliffs but in the takeover by NOT, FWR shareholders may yet have some substantial appreciation from FWR's RoF assets, why then is the offer from Cliffs superior?

I still believe that even as it presently stands the NOT offer is the superior offer.

The FWR board sounded a bit surprised to me at the end that they got off so easy. All IMHO.