do we now have to wait for the SPQ BoD to determine if Cliffs 'new' offer of $0.19 is a superior offer?

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Not sure if SPQ BoD has determined if Cliffs 'new' offer of $0.19 is a superior offer, but Cliffs has contacted Mr. Novak last Friday.

From SEDAR :

On June 25, 2010, Mr. Boor contacted Mr. Novak and indicated that Cliffs was prepared to increase the offer price under the Offer to $0.19 in cash per Common Share on the basis that the increased offer was supported by Spider.

Immediately following that call, Cliffs delivered a letter to the Board of Directors proposing to increase the Offer to $0.19 in cash per Common Share, conditional on entering into a definitive support agreement with Spider and lock up agreements with directors and officers of Spider, and Spider terminating all agreements with KWG concerning the proposed KWG/Spider Merger.