Jimmi,

Just have to share my thoughts on a takeover/bid/offer.

It seems the bigger point actually being made is that any bid/takeover attempt would enhance current KRY sp, at least for the short term. Always would be better if the takeover company is solvent, well run, etc.

Whatever the bid/offer might be, whether it is in cash or shares, it will be calculated/converted to be some dollar amount that KRY sp would be worth to the takeover company.

If the Market has confidence in the takeover company, the Market will drive the price towards offer price (GRZ is a perfect current example). Some other companies in that sector may also benefit in their sp (KRY may be a current example, although IMO it was Zacks that caused the recent KRY sp run).

In any takeover bid where the sp starts to move towards the bid price, the Market is believing that an "Expert Analyst," which happens to now be the takeover company, is on-target and that the offer price is currently the fair-worth of the company being taken over. The Market believes because the takeover company has some "intimate knowledge" of the other company. Assuming a higher offer than current sp, if the sp does not come close to the offer price, it could indicate no-confidence in the takeover company. If sp shoots much higher, it could indicate the takeover bid was lowball.

At least in the short term. How a takeover ends up is always speculation (very much at its best), so savvy folks trade out and get the current offered "fair value" (or close to it), because a bird in the hand...