I just got home from work and quickly read Clf's latest offer. Maybe I misunderstand this, but to me, it looks like Cliffs ices the deal with this latest offer. Offer now at C$1. If I understand it correctly, Cliff's will convert there C$1 offer of stock to C$1 in cash if NOT is tendered more than 12.5% of FWR shares. I am thinking its a no brainer that NOT will get more than 12.5% shares tendered so for all practical purposes the offer is now for cash.

If its a cash offer, then its my understanding that shareholders dont vote. The decision is made solely by FWR's BOD in an all cash offer. Since FWR's BOD has been fully supporting Cliffs, then I would think it would then be virtually a done deal.

Comments please. Let me know if above analysis is correct or not. Done deal? Where do we go from here.