Here is what I posted on the FWR Board:

"This is an excellent move and better than I expected. While it may be a stretch to get 66 2/3% tendered, better than 33 1/3 is quite possible, and would at least block the cheap takeover by CLF. That gets my tender."

The new offer removes the "66 2/3% or nothing" clause, and NOT will take up whatever is tendered, also includes all previously tendered FWR shares at the new offer if not withdrawn. I do not believe that the Break Fee applies unless the FWR changes its mind and supports the NOT offer, eliminating the hostile label.