May 26th : CLF offered 0.13$ all cash
June 14th : Business combination agreement with KWG (NO IMMEDIATE CASH)
June 14th : New CLF offer of 0.165$ (ALL CASH)), this proposal is subject to the right of KWG to match the Proposal, over a 5 business day right to match period, that expires on June 21, 2010
Three scenarios possible :
- KWG must find a new proposal that offer more than 0.165$ to SPQ SH before Monday, and if they do, CLF will crush it with a new better and last offer around 0.19$
- KWG will not make new proposal. We stay and give SPQ to CLF at 0.165$
- CLF unable to reach 50%, because nobody sell at 0.16 and 0.165$ , CLF make a new offer to grab SPQ.
JMHO and feelings...