"I suspect an initial offer with a 2/3 to 3/4 premium above our recent trading prices.
I expect an improved second offer of no less than 100% above recent sp.
What after that is too much for me to speculate about."

Well there you go, it's all about expectations on both sides of the equation. The big boys expect to get something for nothing because that's exactly what they've been getting in these low price times and economic uncertainty....so they look no higher. The shareholders have been likewise trained to look no higher. In the end what may be important is something we can't count on at this moment in speculation.