I contend they could get many more on the open market if they upped the ante to $5. Look at the volume today. And what a pittance that would be when the white knight says 'let's start at $5 billion'.

I don't think that Dundee could grab over half the trading volume at only a 25-30% premium to the current market. I don't think the other market players, many (most?) of whom are absent trading SGR most days, would let them get away with that kind of a move on ANY company that easy. Even the Algos would get in on it. So, I guess we'll have to agree to disagree on that point.