You could be right. I really don't know anything about legalities in these cases. But investment house JONES sure bought up a lot of shares yesterday assumably for Cliffs and if not for Cliffs but for themselves is there anything to stop them from giving Cliffs a proxy to do with whatever Cliffs wants.
Cliffs is not entirely new at this game and I am sure that they know of a few different ways to skin this cat.
All I know for sure is that I won't play this game and I am holding on to what I have till the very end. Which I hope is very favourable to us.