Deputy,

Some comments on this quote " Given PRB has to pony up $18mm to back out, I'm not holding my breath."

My take: This is not "a given" for all situations.

This would only happen under certain situations. For example, a counter bid emerges and is a lot more attractive than G's offer. If PRB shareholders vote in favour of the new bid...and G decides to walk away, then I would say G may walk away with $18M, and the gain from its from its shares.

But, in another situation, if G's offer cannot not get a majority approval (2/3) and decides to walk away without sweetening the offer, then I would say the $18M is off the table, i.e. G can certainly walk away, but empty handed.

Just my opinion.

goldhunter