Correct me if I am wrong but my understanding is that the FWR chromite assets could add approximately $4.- to each CLF share (target). $4.- per CLF would translate into $4.- x 0.02106 (fractional CLF per FWR) = $0.084, less than $1.00.

Deke

PS: I had waited for a White Knight, which did not happen, and was converted to CLF shares, which will have to go to approx. CDN$49.50 to get my $1 / FWR.