abc> If there would be an offer they would have to present it to shareholders, no?

probably not if they can defend it as unreasonable or unlikely to succeed.

consider: you phone Peter and offer $2 flat.

it's ridiculously low, so he doesn't have to present it to shareholders.

imo, that's why P2 was produced. to help Peter.

it develops a line-in-the-sand.

so he can do this.

:-)

GLAL,

R.